A whistleblower from one of China’s most powerful banks says its shady dealings highlight how Hong Kong’s financial system is increasingly at the mercy of Beijing.
Listen to SupChina editor-at-large and Sinica podcast host Kaiser Kuo read this article.
The roadshow kicked off on a steamy autumn morning in Singapore. Over the course of two days, CLSA, a Hong Kong-based brokerage firm, hyped up a $250 million, three-year bond deal for CEFC China Energy Co., a huge oil and gas firm.
It was 2016, and CEFC was flying high. The company was fresh off a deal to take a stake in a Kazakhstan oil and gas company and a Czech Republic-based bank, plus the company was in the process of developing a massive oil reserve in Hainan, an island province of China.
CLSA was tasked with finding investors for CEFC’s dollar-denominated bond. And during the roadshow, bankers pushed its growth story: the company had more than $40 billion in annual revenue, 30,000 employees and had been recognized as “China’s Most Influential Company” and an “Asia Excellence Brand.” The company was also portrayed as being “closely aligned with national
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Increasingly, Democrats and Republicans believe that climate change and China pose a single interconnected challenge. As a result — and for the first time ever — a window is opening for bipartisan cooperation on climate policy. Historically progressive ideas like a 'carbon border adjustment mechanism' now have conservative champions, for instance. But with Washington's main focus on the Warming War with China, can it still save the planet?
A look at China’s electricity grid: how it works, who foots the bill, and how its structure leads to power crunches and expensive prices despite the relative abundance of energy in China.
The academic talks about the changing understanding of Leninist regimes; common misperceptions of the post-Mao era; and what the collapse of the Soviet Union means for China today.
