‘Special Purpose Acquisition Companies’ offer Chinese companies what they want: a quick and easy way to get foreign capital and a foreign listing.
Blank check companies are flooding the boards, and now Chinese companies want in. Credit: Christopher Berry, Creative Commons
Wall Street’s latest craze for SPACs has reached a new frontier: China.
These so-called blank check companies — which raise money, go public and merge with a private company, typically within two years — have already raised $97 billion in 2021, according to SPACinsider, more than all of last year. And though the vast majority of that money has been raised by American sponsored SPACs, Chinese firms are starting to get in on the action.
SPACs, or "special purpose acquisitio
Exclusive longform investigative journalism, Q&As, news and analysis, and data on Chinese business elites and corporations. We publish China scoops you won't find anywhere else.
A weekly curated reading list on China from Andrew Peaple.
A daily roundup of China finance, business and economics headlines.
We offer discounts for groups, institutions and students. Go to our Subscriptions page for details.
Taiwan is almost entirely dependent on imported fossil fuels for its power supply — a critical weakness in the event of a Chinese blockade. But the very democratic forces on the island that China would be seeking to destroy through forced unification are also standing in the way of the obvious solution: aggressive investment in nuclear power and renewable energies.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OKPrivacy policy
