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Decamping auditors are slamming the door on Chinese developers. It’s a little late to be taking a stand, but mass switching to local firms will close off whatever was left of the offshore borrowing market. says Yawen Chen bit.ly/3wJKLm0

Similar q haunting me over the weekend. What will happen if China sticks to dynamic zero for, say, 10 years? It's not impossible.

The central bank finally made a tiny cut of 25bp to the bank reserve ratio. But as I argued days before, for private businesses, uncertainty as to when lockdowns will end and whether they will resume soon after, will deter investment and hiring regardless of the cost of credit

Today Alibaba reported that its annual active consumers in the last fiscal year crossed 1 bln in China for the first time. There are 1.4 bln people in the country. Other factors aside, that saturation alone probably prompted the urgency for finding growth elsewhere.

Traveling back to HK from a mask-free country makes every detail stand out. My quarantine hotel, for one, would have staff disinfect and wipe the counter every time before a guest checks in, even as we all wear a mask. Hence the long wait. Supply chain bottlenecks, I feel you

NFT making it into Hong Kong’s bubble tea scene

Uncontained, the present crisis risks a vicious cycle in which falling real wages further deter domestic consumption, and therefore investment and job creation. It’s a scenario reminiscent of the stagnation that plagued Japan for decades. My latest

July is going to be a tough month for Chinese developers and their investors. Little surprise that Shanghai-based Shimao, once with good standing, missed repayments on $1 bln offshore bond this past weekend

Heard some friends in Shanghai urgently packed up bags over the past weekend. We had written in May China’s covid-19 “new normal” will challenge hopes for a quick rebound. reuters.com/breakingviews/… reuters.com/world/china/ch…

Authorities in Henan finally agreed to cover customer deposits that were frozen in April after getting caught in a possible fraud. It’s a cautionary tale for China’s 1,600-odd village banks that receive insufficient regulatory oversight, writes Yawen Chen: reut.rs/3yYwbrk

Three heatwaves on three continents. Just a normal day on the environment page.

nytimes.com/2022/08/01/opi…

Reading the prospectus of AMTD, the mysterious co that had at its peak soared 36,400% over its U.S. IPO price before coming crashing down, and this mission statement cracks me up. “Fusion reactor”, what a strange euphemism for saying “hey we are power/financial brokers”

Hong Kong has been absent from the travel itinerary of Wall Street bosses for nearly three years. As Singapore steals its limelight, the city is facing more pressure to show it’s open for business. My latest

Must be a particularly difficult day for $BABA as it kicked off today the annual Singles Day shopping spectacle, China’s Black Friday equivalent. A friend said she is only considering buying three things this year, with coupons for McDonald’s being the top item on her wish list.

Personal update: I’ve relocated to London and will be writing more about the region for Reuters Breakingviews, with an interest in European energy, property and the crossover w/ China. Here’s my first take on Blackstone’s latest headache, as cracks show in the commercial property market

As inflation peaks, war rages and trade conflicts harden, new ways of thinking about how and why the world has changed are emerging. Read ‘Paradigm Drift’, Reuters Breakingviews’ collection of predictions for 2024, here: reut.rs/3S1Ykax #BVPredicts