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The recent volatility in China's stock market is more of a manifestation of the jittery and nervous sentiment of investors, both retail and institutional, as well as the inexperience of China's SEC. Continue reading
Posted Jan 8, 2016 at KGA Blog
Tweet People have been searching for the next big platform, is it VR, or google glasses, or cars? No, definitely not. It is messaging platform. Few people bet it right except genius Mark Zukkerberg. The two platforms he owns, Facebook Messenger and Whatsapp have active users of 1.6 billion combined... Continue reading
Posted Jan 5, 2016 at KGA Blog
to end RMB's long-term tie with dollar will not be an easy journey. China will have to address the exodus of capital out of the country due to investors' expectation of RMB's further depreciation. The instability of its currency may also affect the currencies of some developing countries which are China's major trade partners, ultimately hurting their economies. In the end, the rest of the world may all feel the pain. Continue reading
Posted Dec 15, 2015 at KGA Blog
美国人和中国企业打交道,有几个最叫他们头疼的事,一是没完没了的宴席,再就是没法做计划,老总们总是说,见面再聊。在他们眼里,中国企业缺乏管理,只会吃喝搞关系,只顾眼前不看长远。然而哈佛商业评论却推出一个新概念“中国式的管理”,认为新一代的中国企业家正在形成自己的风格 - 随机应变,高速灵活。 Continue reading
Posted Dec 14, 2015 at KGA 博客
加入货币俱乐部主要是一种象征意义:IMF官方认可人民币为一种储备货币,一种安全、具有流动性的资产,各国政府可以用人民币持有它们的财富。实际上 IMF的决定远远未能助推对人民币需求的大幅上扬,却有可能为人民币贬值做了铺垫。中国的央行正面临日益加大的压力 - 按照发达国家央行的做法让市场决定人民币价格。 Continue reading
Posted Dec 14, 2015 at KGA 博客
China's baby food market has grown into one with $19 billion by sales in 2014, compared to $9 billion in 2009. Despite the fast growth this industry is still in its infancy. Baby formula milk accounts for more than 70% of the total annual sales in China, the rest 20%... Continue reading
Posted Jul 14, 2015 at KGA Blog
In June 2014, I wrote an article about Alibaba's launch of 11 Main in the U.S. Please click here to read the article. Only a year later, Alibaba sold 11 Main to OpenSky. As Alibaba's Executive Vice Chairman Joseph Tsai said in an interview, "the key issue is whether we... Continue reading
Posted Jun 28, 2015 at KGA Blog
In late April, I attended a forum “China-U.S. Business Forum: Finance and Innovation” hosted by Guanghua School of Management of Peking University, my alma mater, at the New York Public Library. The speakers included Jack Rosen, CEO of Rosen Partners; Steven Barnett, Division Chief (China Division, Asia Pacific Department), International... Continue reading
Posted May 13, 2015 at KGA Blog
孤身隐士久居林中,一天仙女从天而降以身相 许,隐士的生活从此不再孤独,世界鲜花盛开。甜蜜恋人携手发展副业,收入不断增加,日子一天比一天好。仙女不知用什么迷魂术把两人共同拥有的公司中隐士的 股份全部转移... Continue reading
Posted Jan 31, 2015 at KGA 博客
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
Alibaba recently unveiled its new venture in the U.S., 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
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
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
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
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
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
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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