Banking
Chasing the Tinseltown dream
Ever since Chinese conglomerate Wanda Group purchased AMC for $2.6 billion in 2012 and subsequently became the world’s largest movie exhibitor, many people in the movie industry have been waiting for the other shoe to drop, namely a Chinese company acquiring a major Hollywood studio. While this has not yet happened, pundits have noted a lot of tire-kicking, to borrow a term used by Variety in its Feb. 3 issue. Hunan TV & Broadcast Intermediary Co. Ltd., an entertainment company based in central China, announced in March it had agreed a $1.5 billion deal with Lionsgate to co-finance all qualifying features made by the North American studio over the next three years
Ever since Chinese conglomerate Wanda Group purchased AMC for $2.6 billion in 2012 and subsequently became the world’s largest movie exhibitor, many people in the movie industry have been waiting for the other shoe to drop, namely a Chinese company acquiring a major Hollywood studio. While this has not yet happened, pundits have noted a lot of tire-kicking, to borrow a term used by Variety in its Feb. 3 issue. Hunan TV & Broadcast Intermediary Co. Ltd., an entertainment company based in central China, announced in March it had agreed a $1.5 billion deal with Lionsgate to co-finance all qualifying features made by the North American studio over the next three years
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Chasing the Tinseltown dream
Banking
Bow to Beijing a low move by HSBC
HSBC has put money before morality to back China’s new security law: one that’s an assault on the freedoms of Hong Kong’s people.
Luckily for HSBC, it’s headquartered in Britain: a country where you can say what you like about Boris Johnson and his shambolic handling of the pandemic.
(more…)Banking
How China’s role in global finance has changed radically
Within the space of just 15 years, China has gone from being the largest net lender to the world to now being a net borrower. The implications for the global economy, and China’s role within that economy, could be significant.
‘If you owe the bank $1 million, you have a problem. But if you owe the bank $1 trillion, then the bank has a problem’. It’s an old gag, but it underscores an important point: the size of your borrowing or lending can have profound implications for your role in the world.
(more…)Banking
Could China’s financial repression be good for growth?
China’s financial reform and development over the past four decades could be described as strong in establishing financial institutions and growing financial assets, but weak in liberalising financial markets and improving corporate governance.
When China began economic reform in 1978, it had only one financial institution — the People’s Bank of China. As a centrally planned economy, the state arranged the transfer of funds and there was little demand for financial intermediation.
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