China's 'wolf warrior diplomacy' has come to Wall Street [email protected] (Linette Lopez) 1 day ago
。。。。
China's assertive, nationalistic behavior - known as "wolf warrior diplomacy" - has come to the financial markets. This week Beijing punished a Chinese tech company that listed on the New York Stock exchange, and announced rules to govern all Chinese companies listed abroad. Consider this part of the Chinese Communist Party tightening its grip on power at home, and closing its doors power from abroad. This is an opinion column. The thoughts expressed are those of the author. See more stories on Insider's business page. It was only a matter of time before Beijing's heightened nationalism came to Wall Street.
This week, Chinese authorities punished Didi, a ride sharing company, for its June 30 public debut on the New York Stock Exchange. Shortly after the Didi crackdown, Beijing announced new measures that could restrict Chinese companies going public abroad.
What all this is telling us is that Beijing is no longer going to tolerate its tech stars making foreigners rich on foreign exchanges. And it is further evidence that China is closing its society and economy to the West.
Bring it all back home In order to more freely list on foreign stock exchanges, Chinese companies create something called a "variable interest entity." In such an arrangement, a Chinese company creates another company in a tax haven like the Cayman Islands where foreigners can invest. The Chinese company then signs an agreement that gives control and profits to the Cayman entity, from which money is distributed to shareholders and the company back in China. For years, Beijing generally looked the other way when it came to VIEs.
Now, according to Bloomberg, Beijing's new regulations are designed to limit the ability of Chinese companies to set up these entities. The proposed rules would govern what data can and can't be shared abroad, target "illegal securities activities," and set up extra-national laws Chinese companies would have to follow regardless of where they are listed.
Didi shares are down around 20% since it's IPO, in part because Beijing announced these measures, and in part because it has become a target for authorities at home.
。。。。。。
And perhaps that's true. But it's also likely that this is a signal that " wolf warrior" aggression - a kind of Chinese diplomacy named after a hyper- nationalistic film- has come to financial markets. Two other Chinese tech companies listed in the US - Kanzhun and Full Truck Alliance - also had their downloads halted by Chinese regulators. The almost 250 Chinese companies worth $2 trillion in market cap listed on major US exchanges should all be watching their backs.
China is closing
。。。。
There are two main reasons for this seemingly sudden crackdown - one is China's increasing antagonism with the West, and the other is the Chinese Communist Party's own desire for power and self-preservation. Together they amount to the reality that China is once again closing its doors to the world, reversing the opening that began in the 1970s.
As part of a larger crackdown on civil society, the Chinese Communist Party has been tightening its control over any sources of power that might challenge it at home. That includes tech billionaires like Alibaba founder Jack Ma, who has recently been publicly brought to heel by Beijing. And it includes tech companies, like Tencent and Pinduoduo, another e-commerce giant.
Targeting tech companies that list abroad also puts pressure on Chinese companies to consider an IPO to list in Shanghai or Hong Kong instead. It is no secret that China's encroachment into Hong Kong prompted an exodus of financial firms from the city. Making it the new landing place for Chinese tech companies to go public could help it maintain its status as a global financial center.
It is also no secret that the US and China are at risk of what some call " decoupling"- essentially breaking ties and creating a world with separate US or China-centric technologies and financial centers. In some ways, because the two powers have become so antagonistic, this is already happening. Domestically, Beijing has been investing in technological advancements with the hopes making the country a techno-superpower by 2025. Now it's calling its companies home.
What's doubly important is that none of the above is primarily about making China rich. It's all about hoarding power for the CCP. Under President Xi Jiinping that has become Beijing's motivation above all else, and we should all expect it to act accordingly - even when it means hurting its own domestic companies.
A chilling effect Last year Congress passed the Holding Foreign Companies Accountable Act, which requires foreign companies listed on US stock exchanges to be audited by the Public Company Accounting Oversight Board's. If they refuse for three years in a row they can be delisted. Last month, the Senate passed a law that would shorten the time frame to two years in a row.
The problem with this is that so far, Chinese regulators will have absolutely none of it.
This is a stare down. If Chinese companies listed here in the US do not comply they will be delisted. If they do comply Beijing could come down hard on these companies at home. In the meantime recriminations are flying. GOP Sen. Marco Rubio of Florida called the Didi IPO "reckless and irresponsible" weeks before Beijing clamped down on the company, arguing that Didi is a black box.
Rubio and Democratic Sen. Senator Bob Casey of Pennsylvania introduced a bill in May that would prohibit companies from going public on US exchanges if they do not comply with US regulators and submit to an audit from the Public Company Accounting Oversight Board.
All of this pressure from Beijing and Washington will, without a doubt, have a chilling effect on Chinese companies listing here in the United States. So yes, this is another form of decoupling - and it's coming from both sides of the Pacific.
之前美国议员不断对中概股喊打喊杀，天天叫嚣着要对中国在美上市的企业搞调查，加强监管，要求中国公司定期提交报告，不然就必须delist，blah blah，看上去很猛烈
，但是结果跟阿拉斯加会谈一样，美国先上来想要立威，却没想到被中国一个巴掌打了回去。
现在花姐彻底懵逼了，说出来的话也都语无伦次，自己都不知道想要表达什么，对于中国企业来美上市，你到底是想要还是不想要啊，这个问题变成了没法说清楚的苦。
China's 'wolf warrior diplomacy' has come to Wall Street
[email protected] (Linette Lopez) 1 day ago
。。。。
China's assertive, nationalistic behavior - known as "wolf warrior diplomacy" - has come to the financial markets.
This week Beijing punished a Chinese tech company that listed on the New
York Stock exchange, and announced rules to govern all Chinese companies
listed abroad.
Consider this part of the Chinese Communist Party tightening its grip on
power at home, and closing its doors power from abroad.
This is an opinion column. The thoughts expressed are those of the author.
See more stories on Insider's business page.
It was only a matter of time before Beijing's heightened nationalism came to Wall Street.
This week, Chinese authorities punished Didi, a ride sharing company, for
its June 30 public debut on the New York Stock Exchange. Shortly after the
Didi crackdown, Beijing announced new measures that could restrict Chinese
companies going public abroad.
What all this is telling us is that Beijing is no longer going to tolerate
its tech stars making foreigners rich on foreign exchanges. And it is
further evidence that China is closing its society and economy to the West.
Bring it all back home
In order to more freely list on foreign stock exchanges, Chinese companies
create something called a "variable interest entity." In such an arrangement, a Chinese company creates another company in a tax haven like the Cayman
Islands where foreigners can invest. The Chinese company then signs an
agreement that gives control and profits to the Cayman entity, from which
money is distributed to shareholders and the company back in China. For
years, Beijing generally looked the other way when it came to VIEs.
Now, according to Bloomberg, Beijing's new regulations are designed to limit the ability of Chinese companies to set up these entities. The proposed
rules would govern what data can and can't be shared abroad, target "illegal securities activities," and set up extra-national laws Chinese companies
would have to follow regardless of where they are listed.
Didi shares are down around 20% since it's IPO, in part because Beijing
announced these measures, and in part because it has become a target for
authorities at home.
。。。。。。
And perhaps that's true. But it's also likely that this is a signal that "
wolf warrior" aggression - a kind of Chinese diplomacy named after a hyper-
nationalistic film- has come to financial markets. Two other Chinese tech
companies listed in the US - Kanzhun and Full Truck Alliance - also had
their downloads halted by Chinese regulators. The almost 250 Chinese
companies worth $2 trillion in market cap listed on major US exchanges
should all be watching their backs.
China is closing
。。。。
There are two main reasons for this seemingly sudden crackdown - one is
China's increasing antagonism with the West, and the other is the Chinese
Communist Party's own desire for power and self-preservation. Together they amount to the reality that China is once again closing its doors to the
world, reversing the opening that began in the 1970s.
As part of a larger crackdown on civil society, the Chinese Communist Party has been tightening its control over any sources of power that might
challenge it at home. That includes tech billionaires like Alibaba founder
Jack Ma, who has recently been publicly brought to heel by Beijing. And it
includes tech companies, like Tencent and Pinduoduo, another e-commerce
giant.
Targeting tech companies that list abroad also puts pressure on Chinese
companies to consider an IPO to list in Shanghai or Hong Kong instead. It is no secret that China's encroachment into Hong Kong prompted an exodus of
financial firms from the city. Making it the new landing place for Chinese
tech companies to go public could help it maintain its status as a global
financial center.
It is also no secret that the US and China are at risk of what some call "
decoupling"- essentially breaking ties and creating a world with separate US or China-centric technologies and financial centers. In some ways, because the two powers have become so antagonistic, this is already happening.
Domestically, Beijing has been investing in technological advancements with the hopes making the country a techno-superpower by 2025. Now it's calling
its companies home.
What's doubly important is that none of the above is primarily about making China rich. It's all about hoarding power for the CCP. Under President Xi
Jiinping that has become Beijing's motivation above all else, and we should all expect it to act accordingly - even when it means hurting its own
domestic companies.
A chilling effect
Last year Congress passed the Holding Foreign Companies Accountable Act,
which requires foreign companies listed on US stock exchanges to be audited by the Public Company Accounting Oversight Board's. If they refuse for three years in a row they can be delisted. Last month, the Senate passed a law
that would shorten the time frame to two years in a row.
The problem with this is that so far, Chinese regulators will have
absolutely none of it.
This is a stare down. If Chinese companies listed here in the US do not
comply they will be delisted. If they do comply Beijing could come down hard on these companies at home. In the meantime recriminations are flying. GOP Sen. Marco Rubio of Florida called the Didi IPO "reckless and irresponsible" weeks before Beijing clamped down on the company, arguing that Didi is a
black box.
Rubio and Democratic Sen. Senator Bob Casey of Pennsylvania introduced a
bill in May that would prohibit companies from going public on US exchanges if they do not comply with US regulators and submit to an audit from the
Public Company Accounting Oversight Board.
All of this pressure from Beijing and Washington will, without a doubt, have a chilling effect on Chinese companies listing here in the United States.
So yes, this is another form of decoupling - and it's coming from both sides of the Pacific.
来美国上市的 在中国基本都是优质资产
花姐现在还是亲中的，中国不会把他们打到对立面的。
咋不会
肯定要打到对立面。。。
【 在 Hanzheng(Hanzheng) 的大作中提到: 】
: 花姐现在还是亲中的，中国不会把他们打到对立面的。
对付美国很简单，看它做了什么而不是看它说了什么。
所以，很显然，中概对美国利大于弊，开动印钞机就能买下中国企业，还能降低本国通胀，这便宜占大了。如果真心要搞中概，何必等三年？这道理用脚指头其实就能想明白。
比特币也是个很好地例子，美国从企业到华尔街都在挺比特币，基本可以证明比特币就是CIA用来打压黄金的阴谋。
如果你要从美国运黄金，美国得跟你急，也足以说明黄金是美国的软肋。
美国佬是求仁得仁
【 在 btphy (btphy) 的大作中提到: 】
: 之前美国议员不断对中概股喊打喊杀，天天叫嚣着要对中国在美上市的企业搞调查，加
: 强监管，要求中国公司定期提交报告，不然就必须delist，blah blah，看上去很猛烈
: ，但是结果跟阿拉斯加会谈一样，美国先上来想要立威，却没想到被中国一个巴掌打了
: 回去。
: 现在花姐彻底懵逼了，说出来的话也都语无伦次，自己都不知道想要表达什么，对于中
: 国企业来美上市，你到底是想要还是不想要啊，这个问题变成了没法说清楚的苦。
: China's 'wolf warrior diplomacy' has come to Wall Street
: [email protected] (Linette Lopez) 1 day ago
: 。。。。
: China's assertive, nationalistic behavior - known as "wolf warrior
diplomacy
: ...................
花姐亲个屁中，花姐只是亲钱。以前中国却资金缺金融产品和管理的经验知识，TG还高看花姐一眼，现在全世界大水漫灌，中国第一不缺资金，美元投资更是变成毒药，而经过几次金融海啸，TG对花姐这一套也大不以为然，现在基本上就是和当年纽约对伦敦一样，根本不拽你了。
【 在 Hanzheng (Hanzheng) 的大作中提到: 】
: 花姐现在还是亲中的，中国不会把他们打到对立面的。
★ 发自iPhone App: ChinaWeb 1.1.5
打的到底是谁的孩子说不清楚了。
【 在 btphy (btphy) 的大作中提到: 】
: 之前美国议员不断对中概股喊打喊杀，天天叫嚣着要对中国在美上市的企业搞调查，加
: 强监管，要求中国公司定期提交报告，不然就必须delist，blah blah，看上去很猛烈
: ，但是结果跟阿拉斯加会谈一样，美国先上来想要立威，却没想到被中国一个巴掌打了
: 回去。
: 现在花姐彻底懵逼了，说出来的话也都语无伦次，自己都不知道想要表达什么，对于中
: 国企业来美上市，你到底是想要还是不想要啊，这个问题变成了没法说清楚的苦。
: China's 'wolf warrior diplomacy' has come to Wall Street
: [email protected] (Linette Lopez) 1 day ago
: 。。。。
: China's assertive, nationalistic behavior - known as "wolf warrior
diplomacy
: ...................
有道理。
【 在 OneFlyingPig (time) 的大作中提到: 】
: 对付美国很简单，看它做了什么而不是看它说了什么。
: 所以，很显然，中概对美国利大于弊，开动印钞机就能买下中国企业，还能降低本国通
: 胀，这便宜占大了。如果真心要搞中概，何必等三年？这道理用脚指头其实就能想明白。
: 比特币也是个很好地例子，美国从企业到华尔街都在挺比特币，基本可以证明比特币就
: 是CIA用来打压黄金的阴谋。
: 如果你要从美国运黄金，美国得跟你急，也足以说明黄金是美国的软肋。