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These days, the questions my clients ask me most often are how bad is the corruption in China and to what degree will Xi continue to fight it. Before I answer these questions I tell them stories from my personal experience. I want to share one story here from one... Continue reading
Posted Aug 20, 2014 at KGA Blog
No market than China sees American Internet companies fail so terribly. Google was kicked out of China, part of it because it offended the Chinese government, part of it because it lost to its local competitor Baidu. eBay pulled out of the market voluntarily after realizing it was losing ground... Continue reading
Posted Aug 10, 2014 at KGA Blog
Tompkins International has put together a comprehensive presentation about Alibaba. It is a must read or listen material before Alibaba's August IPO at New York Stock Exchange. This 50-minute video presentation covers five topics: 1) Alibaba, what is the big deal 2) What does Alibaba do 3) Who is Jack... Continue reading
Posted Jul 28, 2014 at KGA Blog
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Alibaba recently unveiled its new venture in the U.S. 11main.com, an eCommerce business offering similar services to Amazon and eBay, a market place for smaller vendors. The site is not available yet. Here is a peek of the home page of 11 Main. Should Amazon or eBay be concerned about... Continue reading
Posted Jun 12, 2014 at KGA Blog
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The successful IPOs of Chinese ecommerce companies VIPSHOP (ticker VIPS), Jumei International (ticker JMEI), Jingdong (ticker JD) and the much-anticipated IPO of Alibaba in the near future, have one thing in common, ecommerce. Stock Performance of VIPS Stock Performance of JMEI Stock Performance of JD These companies have benefited from... Continue reading
Posted May 28, 2014 at KGA Blog
China's central government relaxes its control over Chinese companies outbund investment in overseas asset by introducing a filing-based system vs. approval-based system. Compared with the old system, which requires approval from the National Development and Reform Commission (NDRC), the Ministry of Commerce (MOFCOM) and the State Administration of Foreign Exchange... Continue reading
Posted May 12, 2014 at KGA Blog
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From time to time, owners of small and mid-sized companies in the United States have approached me with the question: "We have excellent products/services/technology, can we make some money from China with them? By the way, though we can't afford to set up a China-team to handle all the work,... Continue reading
Posted May 7, 2014 at KGA Blog
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Early in the morning, while attending a conversation on Ukraine, Russia and the West at Harvard Club, my WeChat account on my iPhone received a message inviting me to a dinner at Evergreen Shanghai Restaurant on 38th Street in Manhattan tonight. One of the senior guys from a Chinese asset... Continue reading
Posted May 2, 2014 at KGA Blog
欢迎访问KGA博客。 中美之间的经济交流与日俱增。尤其近几年,越来越多企业意识到,今后全球经济G-2的格局正在形成,中美两国各自拥有巨大的国内市场,同时又具有很大的互补性。中国和美国成为不少企业中长期... Continue reading
Posted May 1, 2014 at KGA 博客
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The new leadership under Xi Jinping has done an excellent job designing an ambitious blueprint for China and, in particular, notable are its concessions to various interest groups, such as limiting political reform and maintaining SOE’s dominant positions, at least in perception, as a bargain for broad social and economic reform. While the optimists have good reason to be hopeful, it is too early to predict any outcomes given the details have yet to be designed, finalized and executed. Continue reading
Posted Dec 2, 2013 at KGA Blog
TweetFollow @keeglobal Oaktree Capital Management, Och-Ziff Capital Management Group, Winton Capital Management Group, Winton Capital Management, Man Group PLC, Citadel and Canyon Partners are the first group of foreign hedge funds which received Chinese government's approval to operate in China as qualified Domestic Limited Partner (QDLP). They are allowed to... Continue reading
Posted Sep 17, 2013 at KGA Blog
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Most people believe the key to China's continued growth is domestic consumption, but we bet on investment. Continue reading
Posted Aug 4, 2013 at KGA Blog
Few market is harder to comprehend than China's medical device market. In 2012, China's output of medical device was $24 billion, exported $17.6 billion to other countries and imported $12.5 billion. The toal value of medical device consumption in China ended up $18.9 billion, out of which 67% was imported... Continue reading
Posted Jul 25, 2013 at KGA Blog
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While institutional investors were still recovering from the shocks of some accounting scandals involving Chinese companies listed on U.S. exchanges through reverse merger, Caterpillar’s $580 million write-down due to fraudulent accounting practices of its Chinese subsidiary cast yet another chill on future transactions U.S. companies and/or investors are considering. In... Continue reading
Posted Apr 2, 2013 at KGA Blog
According to Financial Times report on January 8, Fortress Investment Group is buying an asset management firm specialized in soured debts and distressed assets in China. The firm's name is the Fan Ya Tai Asset Management (International) Ltd. Fan Ya Tai's English website indicates that, "Fan Ya Tai Asset Management... Continue reading
Posted Jan 11, 2013 at KGA Blog
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Dec 18, 2012
China's 18th National Congress Meeting of the Communist Party of China brings China to a critial turning point. It will elect the once-a-decade new leadership and lay out the plan for the next 10 years under the new leadership. The past ten years have seen China grown into the second... Continue reading
Posted Nov 14, 2012 at KGA Blog
To address the challenges faced by private companies to finance overseas investment and to simplify the foreign exchange control policies for outbound investment activities by private companies, SAFE released new rules " the Circular of State Administration of Foreign Exchange on Foreign Exchange Administration in Relation to Encouraging and Guiding... Continue reading
Posted Jun 22, 2012 at KGA Blog
According to the Economist Intelligence Unit's most recent research, China is witnessing a shift of its foreign direct investment (FDI) landscape. The obvisous trends are first of all, FDI is moving towards service sectors and meanwhile away from manufacturing; second, with the coastal market getting crowded and saturated FDI is... Continue reading
Posted Feb 26, 2012 at KGA Blog
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一口气看完纪念尼克松访华40周年的10集纪录片“尼克松访华”。这个纪录片详细回顾了尼克松如何打破中美两国20多年的敌对坚冰,并在毛泽东和周恩来的努力下,让两个国家终于走到一起的这段不平凡的历史。这个记... Continue reading
Posted Feb 26, 2012 at KGA 博客
作者:成小洲 中国已经进入了权贵资本主义社会. 二十年前中国著名经济学家吴敬琏先生所担心的改革结果在中国发生了. 马克思社会主义经济思想的核心是, 等量劳动获得等量社会利润, 人的劳动控制物质资料; ... Continue reading
Posted Feb 24, 2012 at KGA 博客
Chinese local banks received $1.7 trillion of loans from government-controled banks as part of the stimulas plan designed to cope with the financial crisis. As the loans are approaching their maturity in the next three years, the local governments are getting concerned because most of them are cash strapped, while... Continue reading
Posted Feb 14, 2012 at KGA Blog
新年伊始, 从基本层面看, 尽管欧元区国家债务危机并没有缓和的迹象, 但是, 欧元兑美元汇率却一路上升; 从去年12月30日的1.2939美元上升到今年1月27日的1.3145美元, 上升幅度为1.5... Continue reading
Posted Feb 4, 2012 at KGA 博客
In 2011, China received VC financing of $6 billion for 332 deals. Europe completed 274 VC transactions for a total value of $6.1 billion. The U.S. still remains far ahead of the second and third place with 3209 deals receiving a total $32.6 billion financing, according to Isabella Steger on... Continue reading
Posted Feb 2, 2012 at KGA Blog
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FEW would deny that China has been the economic superstar of recent years. Thanks to its relentless double-digit annual growth, it has become the world’s second-largest economy and in many ways the most dynamic. Less obvious is quite what the secret of this success has been. It is often vaguely... Continue reading
Posted Feb 1, 2012 at KGA Blog