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
Subscribe, register or login to read the rest. Registered users can access a limited amount of content for free.
Subscribers get full access to:
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 David Barboza, Pulitzer Prize-winning former Shanghai correspondent for The New York Times.
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.
As the Chinese ridehailing app prepares for a giant IPO in New York, a look back at how it rose to global prominence — and why one of its biggest obstacles going forward could take place on its home turf.
Thanks to impressive e-commerce operations and social media marketing, Shein, a little known Chinese brand, is giving global giants a run for their money.
The global health expert talks about China's handling of Covid-19, vaccines, and why — when it comes to policy implementation — China is remarkably resilient but also fundamentally flawed.
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
