In The Media

Professors Blog

     Know your customer - HNA

 

      Is China’s Economy Growing

 

     Yes, Chinese Consumer Are Rising

 

 

 Oct. 29, 2017

Maxed-out China needs a strong leader to fix its debt mess, economist Michael Pettis says

SCMP/ China needs a strong leader if it’s to clean up its debt mess and rebalance its economy, a long-time watcher of the Chinese economy has said. Michael Pettis, a professor of finance at Peking University’s Guanghua School of Management, said President Xi Jinping’s consolidation of power at the Communist Party’s national congress last week was necessary to put growth on the right track.


Nov. 3, 2017

Green growth

China Daily / China sees a clean environment as the path forward toward an upgraded industrial structure. President Xi Jinping has summed up China's strategy for economic restructuring as striving for both "green mountains and gold mountains". The strategy combines environmental protection with a broad plan to restructure industry toward higher value-added manufacturing, away from the old reliance on heavy industry, resource extraction and low-tech steel and coal production.

 


Oct. 31, 2017

Kellogg Dean Emeritus Don Jacobs dies at 90

Northwestern / Donald P. Jacobs, dean of Northwestern University’s Kellogg School of Management from 1975 until 2001 and professor of finance since 1957, died October 30, surrounded by his children. He was 90. Dean Jacobs was praised for his intelligence, tenacity and vision which transformed Kellogg into one of the world's premier management education schools.

 


Oct. 29, 2017

Maxed-out China needs a strong leader to fix its debt mess, economist Michael Pettis says

SCMP/ China needs a strong leader if it’s to clean up its debt mess and rebalance its economy, a long-time watcher of the Chinese economy has said. Michael Pettis, a professor of finance at Peking University’s Guanghua School of Management, said President Xi Jinping’s consolidation of power at the Communist Party’s national congress last week was necessary to put growth on the right track.


Oct. 26, 2017

China must grasp opportunities of new retail era

Global Times / A new retail era is beginning, largely thanks to the upgrading of technology and consumption. Modern technology enables us to truly understand the needs of consumers and convert this information into the data needed by the production side so that more accurate predictions can be made. Based on this massive amount of data, the entire value chain can be more efficient in meeting the needs of consumers, and the supply side can be optimized.


 Oct. 19, 2017

Schooling China's Kids

BBC / Is China's education system too academic, too high pressure and too elitist? Ed Butler meets a primary school head, a kindergarten tutor and a university professor to find out. The programme includes interviews with Lin Min, founding principal of the Xiwai International School, Michael Pettis of the Guanghua School of Management at Peking University, and author Zhang Lijia.


Oct. 19, 2017

Median Technologies Appoints Vivian Wang as General Manager, China

NewsCenter.io / Median Technologies (Paris: ALMDT), The Imaging Phenomics Company®, has announced the appointment of Vivian Wang as China general manager. In this new role, Wang is responsible for scaling Median’s operations and commercial teams. She will ensure the execution of the strategic plan across Greater China and the delivery of key company and customer milestones.


Oct. 19, 2017

Median Technologies Appoints Vivian Wang as General Manager, China and Takashi Hayashi as Managing Director, Japan

Business Insider / Median Technologies (Paris:ALMDT), The Imaging Phenomics Company® today announces the appointment of Vivian Wang as General Manager, China and the appointment of Takashi Hayashi as Managing Director, Japan.


Oct. 19, 2017

Why 19th CPC National Congress important to world economy?

Xinhua / The 19th CPC National Congress is important to the world economy. Professor Jin Li with China's prestigious Peking University explains.


Oct. 19, 2017

Expert suggests Xiongan can open its own universities

China Daily / Xiongan New Area in North China's Hebei province can establish one or more high-level universities on its own, a university expert said. "During its construction and development, Xiongan also should improve its own innovative system, rather than only receive innovative resources from Beijing," Li Guoping, head of the Beijing Development Institute at Peking University, was quoted as saying by China Newsweek.


Oct. 19, 2017

Confidence shows rapid pace of economic reform - Development is creating opportunities for young people

China Daily / Having stayed in close contact with China and its people for four decades, John Holden, associate dean of Peking University's Yenching Academy, is amazed by how Chinese people have changed during the past 40 years. Now responsible for recruitment of international students and university partnerships at the academy-established in 2014 to offer fellowships in China studies to elite international and Chinese master's students-Holden said later generations could not imagine what China was like when he first came in 1974.


Oct. 17, 2017

Coming of age in an era of prosperity: Meet China's 'bubble generation'

Business Insider / They were born after the crushing of the Tiananmen Square pro-democracy protests, raised mostly without siblings during an unprecedented economic boom, and came of age as Xi Jinping, China's strongest leader in decades, ascended to power. It's a generation that grew up in an era of prosperity and peace; one that has not "eaten bitterness" - or struggled - as their parents and grandparents did.


Oct. 17, 2017

Coming of Age in an Era of Prosperity: Meet China's 'Bubble Generation'

US News / They were born after the crushing of the Tiananmen Square pro-democracy protests, raised mostly without siblings during an unprecedented economic boom, and came of age as Xi Jinping, China's strongest leader in decades, ascended to power. It's a generation that grew up in an era of prosperity and peace; one that has not "eaten bitterness" - or struggled - as their parents and grandparents did.


Oct. 16, 2017

Yes, Chinese Consumer Are Rising. But They Are Changing Even Faster

LinkedIn / Rising Chinese consumers are now a real economic phenomenon, which definitely wasn’t the case 10 years ago. Between 2010 and 2015, they increased in annual consumer spending by $1.1 trillion. That is a big number and represented over 25% of all global growth in consumption. Note: increasing consumption by American consumers was also about 25% of global growth in consumption.


 

Oct. 10, 2017

International Students Flock to Chinese Universities

China Today / IN 1950, a year after the founding of the People’s Republic of China, the country received its first group of 33 international students. As of 2017, China is the first choice for many international students in Asia, and ranks a world third overall. China’s emergence as an economic, scientific, and cultural powerhouse has prompted more and more international students to further their education at Chinese universities. China now hosts almost 10 percent of all international students – a number likely to rise.


Oct. 9, 2017

How the NBA China Became a Unique Cross-Border Media Platform (Pt 3 of 3)

LinkedIn / "By 2004-2005, the NBA China plus Yao Ming had begun to occupy a unique media position between the US and China. Western brands discovered they could reach millions of Chinese through the NBA. Similarly, Chinese companies seeking to go global found they could advertise at NBA games and reach both Western and Chinese audiences at the same time. And even domestically focused Chinese companies found that they could reach Chinese consumers by advertising at games in the US.


Oct. 9, 2017

How Yao Ming Launched the NBA China Into the Stratosphere (Pt 2 of 3)

LinkedIn / "You can make an analogy between Chinese watching basketball in the 1990’s and Americans watching The Ed Sullivan Show in the 1960’s. Americans weren’t watching because Ed Sullivan was particularly great looking. In fact, he was a pretty ugly guy to be on television. Most Americans watched him because there were only three television stations back then and he was what was on.


Oct. 9, 2017

The Awesome Story of David Stern and the NBA in China (Pt 1 of 3)

LinkedIn / The following is an excerpt from our book, the One Hour China Consumer Book. It is our best explanation for how the NBA has been so hugely successful in China. "This story begins in 1978-9 with two events. First, Abe Pollin, owner of the then champion Washington Bullets, received an invitation from Deng Xiaoping to come to China. While both China and the US had exchanged amateur athletic delegations prior, the Washington Bullets’ visit to China was the first time a professional North American team had visited the newly opened China.


Oct. 6, 2017


Credit Frenzy in China

BBC / Consumer spending is booming in China, but so is consumer debt - is the country following the same path that led the Western world into financial meltdown in 2008?


Oct. 5, 2017

Beijing's Big Plan

BBC / Xiong’an, a small rural town in China, is set to become a city of 5 million people over the next decade. That's the government's plan at least. But could the whole thing end up as an expensive white elephant?


Oct. 3, 2017

Business school: Overachievers at work, WeChat replaces textbooks

FT / China’s elite business programmes are increasingly international in their focus and have mostly escaped a clampdown on "western" values, but there are tighter controls on EMBAs and there are signs of more scrutiny. Read our report, which also includes a listing of business schools in China, Hong Kong and Taiwan.


Oct. 3, 2017

How Safe Is Your Investment In Alibaba Stock? Alibaba Group Holding Ltd (NYSE:BABA)

amigobulls.com / Shares of Jack Ma founded Alibaba Group Holding Ltd  (NYSE:BABA) have had an amazing bull run in 2017 but the rally has stalled over the past few weeks. Alibaba stock is still up nearly 98% in the year-to-date and Wall Street suggests the growth in BABA stock has just got started.


Sept. 29, 2017

China Focus: China enters tomorrow's world with facial recognition

Xinhua / In the past decade, you needed an ID card to book flight tickets, reserve hotel rooms and open bank accounts, but now people no longer need such documents to prove their identities: their faces alone are enough.


Sept. 28, 2017

Lower cost courses attract foreigners from Brics and Africa

FT / Chinese schools open up opportunities unavailable in the West. Miatta Momoh believes in miracles. At least that is how the Londoner describes the unlikely way she wound up on the MBA course at Peking University’s Guanghua School of Management. Ms Momoh had been made redundant from a UK digital publishing house, where she had been a client services manager, and travelled to Beijing to visit her mother, who works there as Sierra Leone’s deputy envoy to China.



Sept. 25, 2017

Why Chinese Families Are Flooding Into Foreign IVF & Fertility Services: An Interview with SCRC.

LinkedIn / Medical tourism from China is surging. According to Ctrip (via a recent Cheung Kong Graduate School of Business report), there were over 500,000 outbound medical tourism trips from China in 2016, a 5x increase from 2015. And the average spending per trip was a stunning 50,000 RMB, more than 10x typical Chinese tourist spending.


Sept. 25, 2017

Video Shows a Year In the Life of a China Shared Bicycle

LinkedIn / Over the course of a year, this Mobike in Shanghai was:

  • Unlocked by 1,975 different users.
  • Made 2,021 trips (some users rode the same bike more than once).
  • Clocked 4,850 kilometers.



Sept. 22, 2017

S&P downgrades Chinese debt as lending surges

AXIOS / S&P downgraded China's debt this week, saying that economy-wide debt increases since 2009 have propped up economic growth but also "diminished financial stability." The decision is a recognition that China's debt — lending that has been funneled to local governments and state-owned enterprise for GDP growth-inducing investment projects of dubious long-run worth — is growing an accelerating rate.


Sept. 18, 2017

The Sale of Baidu Waimai to Ele.me Symbolizes 3 China Internet Trends

LinkedIn / Chinese O2O food delivery company Baidu Waimai is being sold to competitor Ele.me. So Ele.me (Alibaba-owned/backed) and Meituan Waimai (Tencent-owned/backed) now dominate the space:

  • Ele.me plus Baidu Waimai will be about 55% of the market.
  • Meituan Waimai has around 41% of the market (iMedia market research). Although they recently announced they are at 54%.
  • Giants Tencent and Alibaba now dominate online food delivery in China, a business that grew 44% annually between 2013 and 2015 (Bain & Company).
  • Baidu now appears to be out of this booming business. Market research firm iMedia says the business will reach $30B this year.



Sept. 15, 2017

It Is Neither Realistic Nor Feasible To Ban Bitcoin: China’s Leading Newspaper

The Coin Telegraph / Major Chinese news outlet People has released an article stating it is “not feasible” to ban Bitcoin in China. According to the author, Guanghua University professor Liu Xiaolei, authorities should only be concerned about cryptocurrency’s potential to increase speculative moves in the domestic economy.


Sept. 7, 2017

Sally Blount, First Woman to Lead Top-Ranked Business School, to Step Down

WSJ / Sally Blount, the first woman to lead a top-ranked business school, will step down from Northwestern University’s Kellogg School of Management at the end of this academic year.


Sept. 7, 2017

Sally Blount to step down as Kellogg dean

Northwestern Now / Sally Blount, dean of Northwestern University’s Kellogg School of Management and the first woman to lead a top business school, will step down at the end of the 2017-18 academic year after solidifying Kellogg’s place among the world’s premier business schools, Provost Jonathan Holloway announced today.


Sept. 6, 2017

Why Does China Need a New Breed of Companies?

VoxChina / Understanding corporate China and its future dynamics is the key to understanding the Chinese economy and its undergoing transformation. The intellectual framework proposed in this work can be summarized by a simple identity: Growth Rate = Return on Invested Capital (ROIC) X Investment Rate. To successfully achieve China’s economic transition without losing a lot of growth at the same time, China needs to improve ROIC at the aggregate level.


Sept. 6, 2017

Know your customer - HNA

China Accounting Blog / There is a shocking report that Goldman Sachs has suspended its work on HNA’s planned US IPO of subsidiary Pactera because it was unable to meet the bank’s internal “know your customer checks”.  HNA has been criticized for its opaque ownership structure, but it is surprising that Goldman Sachs could not get a look under the sheets. 


 


Sept. 2, 2017

Green spurt

China Daily / China's coal consumption declined unexpectedly by almost 10 percent from 2014 through 2016. Since coal is the largest source of carbon emissions, this also led to a decline in greenhouse emissions long before previously projected. What made this possible? A recent study published in Nature Geoscience by Tsinghua professor Qi Ye and coauthors concluded: "A combination of slowing GDP growth and a structural shift away from heavy industry, along with more proactive policies on air pollution and clean energy, have caused China's coal use to peak."


August 28, 2017

The Solution to China's Digital Health Problems? Go Direct to Consumers.

LinkedIn / In the past 6 months, there has been a lot of soul-searching by entrepreneurs, venture capitalists and Internet companies about what has gone wrong in Chinese digital health. Thousands of digital health companies have been launched and funded in recent years but there have been few, if any, big successes. And, as detailed in a Bloomberg article, even China’s largest tech tycoons have failed to realize their healthcare dreams. Baidu is closing and/or merging its healthcare units into other businesses. Ali Health is still losing money and its stock is down 70% from its 2015 peak.


August 25, 2017

China could be a major Brexit beneficiary

China Daily / UK's potential significance as source of technology and know-how is much greater than raw trade numbers suggest. In June last year, the British people voted, by a majority of about 4 percent, to leave the European Union - an event that immediately became known as "Brexit". On March 31, 2017, the June 2016 vote was converted by the British government into a formal request to the headquarters of the European Union in Brussels. The United Kingdom's severance with the EU will become complete at midnight on March 31, 2019.


August 24, 2017

Savvy Westerners lured East for their MBAs

Nikkei Asian Review / Apricot Wilson and Sebastian Lanfranco came from opposite ends of the earth to study for their MBAs in Asia. Wilson, 29, was born in London, obtained her undergraduate degree at University of Cambridge and later worked in finance in Luxembourg before deciding to head to Shanghai to enroll at the China Europe International Business School (CEIBS).


August 24, 2017

Asia schools itself in the art of business

Nikkei Asian Review / There are plenty of metrics to chart Asia's economic rise over the last two decades, ranging from economic growth rates and industrial output to tourist numbers and car sales. Less noticed, but just as striking, is the emergence of around a dozen first-rate Asian business schools. According to the Financial Times* global ranking of Master of Business Administration courses -- an annual league table based on jobs found and money earned by graduates -- 11 Asian business schools feature in the top 50 this year (including INSEAD, founded in France in 1957, but now French-Asian, with a campus in Singapore since 2000).


August 23, 2017

PFICs and VIEs

China Accounting Blog / The United States has the most complicated tax system of any country. A major reason for this is that Congress has added so many provisions in efforts to combat tax evasion; unfortunately, the complexity just creates an opportunity for bright tax planners to find new loopholes, and for the unwary to fall into a trap. I fear that many of the US listed Chinese companies have a tax trap for the unwary.


August 21, 2017

The Very Symbolic Collision of Sotheby's-Christie's and Poly-Guardian in China Art (Pt 2 of 2)


LinkedIn / The first major auction house to emerge in modern China was China Guardian. It was established in 1993 by Wang Yannan, the daughter of Zhao Ziyang, a former Premier of the PRC. And it was patterned after Christie’s and Sotheby’s (yet another art copycat). Guardian quickly became the largest auction house in China and specialized in traditional Chinese art forms, antiques and artifacts, as well as in modern and traditional Chinese painting. The important differences between Guardian and the Western giants were its national, not global, focus and its close connection to the Chinese government.



August 21, 2017

The Adventures of Sotheby's and Christie's in the Wild West of Chinese Art (Pt 1 of 2)

LinkedIn / "In September 2013, premier art auction house Christie’s held its first-ever auction in China. They have had a representative office in Shanghai since 1994. And they have been running auctions out of Hong Kong for decades. But this small auction (about $25M) was their first in the Mainland.


August 2017

The Best of EQUIS Accredited Business Schools in Asia & the South Pacific, Europe and North America - 2017

Newsweek / This year marks the 20th anniversary of EQUIS - EFMD Quality Improvement System, launched two decades ago at the Deans and Directors General Conference at Schloss Gracht, now part of the ESMT Berlin. This international quality benchmark and improvement process was created to give European and, subsequently, business schools worldwide, a rigorous tool to assess, certify and improve their quality in ten key areas, including governance, programmes, students, faculty, research and, foremost, internationalisation, ethics, responsibility and sustainability as well as corporate engagement.


August 10, 2017

Beijing-Tianjin-Hebei region sees PM 2.5 decrease but ozone pollution rise

ECNS / The Beijing-Tianjin-Hebei region has seen notable progress in tackling PM2.5 air pollution after four years of an official campaign but it now faces severe ozone pollution, according to a new report from Peking University. This is the fourth report by the university's Center of Statistical Science and Guanghua School of Management evaluating the air quality in China's key areas.


August 9, 2017

Ozone issue surfaces as PM 2.5 falls

China Daily / Beijing-Tianjin-Hebei region's problem is shared by many developed countries. The smog-filled Beijing-Tianjin-Hebei region has seen improvement in combating particulate pollution, such as PM2.5, since 2013, but faces worsening ground-level ozone pollution during the summers, a challenge many developed countries share, a new report from Peking University said.


August 9, 2017

Are falling levels of PM2.5 creating new ozone air pollution woes in Beijing area?

SCMP / In northern China, levels of the notorious PM2.5 particulate have gone down in tandem with reduced coal use in recent years, but now another hazardous air pollutant is on the rise. Ozone pollution has been worsening in Beijing and its neighbouring cities, a problem that can lead to serious health problems, a new study has found. Levels of the pollutant went up by 13.3 per cent from 2013 to 2016 in the 13 cities of the Beijing-Tianjin-Hebei area – an industrialised region with 130 million residents – according to the Peking University study.


 


August 8, 2017

My Visit to Mobike Headquarters and What I Learned From Founder Hu Weiwei (Pt 1 of 2)

LinkedIn / In late July, I did a tour of Mobike’s headquarters in Beijing – and I had a fascinating talk with founder Hu Weiwei and VP of International Expansion Chris Martin,. It was a fantastic experience and I left with a much better appreciation of the rocketship ride the company has been on. I am writing up three (more serious) business articles on the bike-sharing business from this experience. But here is a summary of my trip - and then five big things I learned.

 


August 7, 2017

Will Mobike Merge With Ofo?

LinkedIn / I think we are officially at the end of Phase I of China’s bike-sharing / bike-rental phenomenon. There are now a couple of clear leaders – Mobike and Ofo. The services are experiencing tons of daily usage by Chinese consumers, and growth is continuing rapidly. This is definitely not a fad. The economics of the business are becoming clearer. Rental revenue is still the foundation. Advertising revenue may be part of the picture. Some Ofo bikes, for example, have had Minions advertisements on them (see picture below). And perhaps delivery and e-commerce revenue will come in the future. Finally, recent numbers coming out of a Mobike White Paper are pretty interesting. The 2017 Mary Meeker / Hillhouse report on the industry has a couple of good slides on this as well.


July 30, 2017

At Home And Abroad, Chinese Companies Can Beat You Fair And Square

LinkedIn / Chinese companies have gotten to global scale in record time. They are now global in the sense that they have scale, they are competing with global players in and beyond China and they are at global levels of capability. According to a recent analysis by MGI, the top quartile of Chinese companies now earn returns comparable to US companies. And among the top 5,000 companies worldwide by market capitalization (2015), Chinese (excluding Hong Kong) companies now account for 1,107, a significant rise from 326 back in 2000.


July 28, 2017

China brightens Fortune ranking

China Daily / The number of Chinese companies on the Fortune Global 500 list has reached 115, with the addition of 10 first-timers this year. The number has been rising for the last 14 years. According to the latest Fortune Global 500 list released on July 20, among the 10 new entrants are locally well-known names such as Anbang Insurance Group, Alibaba Group and Tencent Holdings.


July 23, 2017

Starbucks' Big Success in China Has Been Surprisingly Painless

LinkedIn / Multinationals and entrepreneurs come to China dreaming of 1.3B consumers. But what they actually encounter is a sea of ruthless competitors and pervasive political challenges and complications. It’s a ferocious market and most fail. A rare few fight their way through, ultimately arriving bloodied at a certain level of success, or at least a viable market share.


July 2017

Just a matter of time

IFRAsia / Twenty years after the Asian financial crisis, the region’s economies are stronger and its finances more secure. While lessons have been learned, however, some flaws remain unresolved, and China’s dominance has brought with it new risks.
It was Georges Clemenceau, a French statesman and one of the architects of the Treaty of Versailles, who observed that the minds of military generals were constantly locked into the past, striving to win the last war they fought.


July 25, 2017

Chinese firms ascend global rankings

China Daily / Chinese firms continue to ascend global rankings as their competitiveness grows with the country's transitioning economy. The Fortune Global 500 list is seeing a China boom this year, the renowned magazine said on its website.Chinese firms filled an unprecedented 115 places on the 2017 list released last week, only 17 less than the top performer, the United States, and marking the 14th year China has increased its presence on the list.


July 24, 2017

Chinese firms ascend global rankings as economy transitions

China Daily / Chinese firms continue to ascend global rankings as their competitiveness grows with the country's transitioning economy. The Fortune Global 500 list is seeing a China boom this year, the renowned magazine said on its website. Chinese firms filled an unprecedented 115 places on the 2017 list released earlier this week, only 17 places less than the top performer, the United States. and marking the 14th-straight-year China has increased its presence on the list.


July 24, 2017

China brightens Fortune 500 list

China Daily / The number of Chinese companies on the Fortune 500 list has reached 115 with the addition of 10 first-timers this year. The number has been rising for the last 14 years. According to the latest Fortune 500 list released on Thursday, among the 10 new entrants are locally well-known names such as Anbang Insurance Group, Alibaba Group and Tencent Holdings.


July 21, 2017

Green spurt

China Daily / China's policies to promote industrial transformation and to shift its energy mix are leading to unexpectedly rapid environmental progress. China's coal consumption declined unexpectedly by almost 10 percent from 2014 through 2016. Since coal is the largest source of carbon emissions, this also led to a decline in greenhouse emissions long before previously projected. What made this possible?


July 17, 2017

The Awesome Story of Wang Shi and China Vanke (Part 2 of 2)

LinkedIn / "That changed in November 1988 when Shi participated in a land auction for the first time. He made an astonishingly high bid for the “Vuitton Villa” land plot in Shenzhen. His bid was so high it surprised everyone, including the auction officer. But it got him into the real estate game. And with his first real estate project acquired, his company began to transform from a trading house (called the “Modern Educational Equipment Exhibit Center”) into a real estate developer.


July 17, 2017

The Awesome Story of Wang Shi and China Vanke (Part 1 of 2)

LinkedIn / China Vanke is a real estate company that has no equivalent in the West. The company’s revenues are greater than the top four American real estate developers combined. It has built more apartments than any other company in history. And Wang Shi, the founder, is now the world’s largest real estate developer. He is also the person who has provided a defining event for millions of rising Chinese: the purchase of their first home.


July 12, 2017

Taco Bell China Is Great - Better Than In The West. But That May Not Be Enough.

LinkedIn / So it’s been +6 months since Taco Bell officially returned in China, re-opening in Shanghai approximately nine years after they closed their last China branch in 2008. Their one outlet in Liujiazui is now humming along. And as a long time Taco Bell fanboy, I felt it was high time for a visit. My assessment is the following.


July 12, 2017

Competition heats up as Chinese companies target global bike share markets

Bicycle Retailer / Ofo, a Chinese company with plans to rewrite the global rules on bike sharing, got a $700 million cash infusion last week in another round of financing. The cash will help finance its plans to more than triple its distinctive yellow bikes with a global fleet of 20 million units stationed in 200 cities worldwide. And The Wall Street Journal reported Monday that Mobike, Ofo's chief rival, began advertising for help in the Washington, D.C., area as the company makes plans to move into the U.S. market.


July 10, 2017

China Can Innovate Big Time

LinkedIn / So what has been happening is China has been playing catch-up with regards to technology. Importing foreign technology has been a major part of this. For example, Foreign Direct Investment has been running at about $70 billion per annum for decades. In automotive, telecom equipment, chemicals, and many other sectors foreign investors have been the cornerstone for technological development. This importing phenomenon has tended to reinforce the “China can’t innovate” stereotype.


July 9, 2017

China Needs Smarter Not Faster Growth

LinkedIn / China needs smarter, not faster growth, the fall in China’s nominal GDP growth from 10% to 5% has been a huge story for the past several years. And every year, there is a lot of media commentary when China’s latest GDP growth numbers get released. For example, there was a ton of discussion when growth recently fell from 7.6% to 6.8%. And while this is entertaining, it is mostly nonsense.


July 2017

Best Masters Ranking 4000 Best Masters & MBA's in 30 Fields of Studies Worldwide

Best-Masters / Make your life easier and maximise your chances of enrolling in a Masters degree. With a single application, apply for a Masters programme wherever you like!


July 2017

En Chine, la ligne rouge du virage vert

Le Monde Diplomatique / Après le retrait américain de l’accord de Paris, Pékin se présente en champion de la lutte contre le réchauffement climatique. Dans le pays le plus pollué de la planète, le pouvoir central voit d’un bon œil les initiatives des défenseurs de l’environnement… à condition de ne pas être lui-même remis en cause.


July 6, 2017

Top 5 places to get your Masters of Finance in China


China Daily / The Masters of Finance Program at Shanghai Jiao Tong University has been recognized as one of the best in the world, according to the Financial Times. About 60 business schools from all over the world were ranked by the newspaper with five Chinese universities making the list. Researchers also looked at the average salary three years after graduation. Let's take a look at the top five Masters of Finance programs in China.


July 6, 2017

Accounting and the negative list


China Accounting Blog / China has long restricted foreign investment in sensitive sectors of its economy.  These restrictions appear to have had two primary motivations – protecting state security and social stability, and protecting state owned enterprises from foreign competition. The former has led to keeping foreigners out of media, internet, and defense sensitive sectors. Restrictions protecting SOEs from foreign competition were largely negotiated away during China’s accession to WTO.


July 1st, 2017

Massive Chinese Brainpower Is the Next Really Big Thing

LinkedIn / *The following is an excerpt from the One Hour China Book, for which a new 2017 version is available here.

"There is a great story about Steve Jobs freaking out about six weeks before the first iPhone was released. It was reported by The New York Times and has become part of the folklore of Steve Jobs. The story goes that about a month before the iPhone release, he summoned his senior team and told them that the iPhone needed a glass screen. The plastic screens on the prototypes were too easily scratched. He wanted an un-scratchable glass screen. And he needed it redone before production started in 4-5 weeks.


June 30, 2017

Value creation is key for great companies

China Daily / China's economy needs to shift toward getting the most return from investments, says professor Liu Qiao. In 1995, China had no businesses with revenues large enough to be included in the Fortune Global 500 list of the world's largest companies. By 2015, 106 Chinese companies were on the list, gaining fast on the 128 based in the United States. Does this mean that China's corporate sector is healthy, even great?


June 30, 2017

Mr. Liu Chuanzhi

China Daily / In 1984, eleven researchers including Liu Chaunzhi started their business in a less-than-20-square-meter bungalow of Computing Institute under the Chinese Academy of Science (CAS); up to now, he has created a number of leading companies, including Lenovo, China Digital, Legend Capital, Hony Capital, and several leading figures, such as Yang Yuanqing, Guo Wei, Zhu Linan, Zhao John Huan, etc. He constantly pursues increasingly ambitious goals and develops new business for Legend Holdings Corporation.


June 26, 2017

China Probe of Big Companies Could Redefine Their Role Overseas


VOA / China is probing the loan practices of a group of big private sector conglomerates who have been on a high-profile global spending spree over the past few years. And although the review targets only a few of the country’s most politically-connected companies, some analysts see an attempt to increase government control over the role played by the private sector in foreign markets.


June 24, 2017

China Probe of Big Companies Could Redefine Their Role Overseas

New Delhi Times / China is probing the loan practices of a group of big private sector conglomerates who have been on a high-profile global spending spree over the past few years. And although the review targets only a few of the country’s most politically-connected companies, some analysts see an attempt to increase government control over the role played by the private sector in foreign markets.


June 20, 2017

SAIF Master of Finance Program ranked No 1 in Asia

China Daily / This year, 60 business schools from all over the world made the ranking list, including six entrants from Asia. Besides SAIF, other entrants from the Chinese mainland were the Guanghua School of Management at Peking University, the School of Economics and Management at Tsinghua University and the Lingnan College at Sun Yat-sen University (ranked 17th, 18th, and 56th, respectively).


June 19, 2017

More women join financial industry but salaries are not equal

FT /
Gender diversity is increasing among graduates working in the financial industry, according to data collected for the 2017 edition of the Financial Times ranking of masters in finance programmes. The proportion of enrolled female students has increased steadily since the ranking began six years ago to 42 per cent among the most recent cohorts. This is low compared with the 48 per cent of female students on masters in management courses but compares favourably with the 35 per cent in MBA programmes.


June 19, 2017

The race to upgrade China's manufacturing

China Daily / In the early 2000s, China's development model was based on low-wage manufacturing combined with high savings and investment rates. The very success of that model in drastically raising living standards has now led the Chinese government to adopt an ambitious set of policies to upgrade China's industry, to escape the so-called middle-income trap and to support a green environment.


June 15, 2017

Business Insight: Why is Chinese ride service Didi sitting on so much cash?

Nikkei Asian Review / Something strange is happening at Didi Chuxing. The Chinese ride service raised $5.5 billion in April, adding to the more than $10 billion it raised last year. Assuming it is no longer burning through $1 billion a year as it did during its fight for Chinese market share with Uber, Didi now has an enormous cash balance for a startup, perhaps as much as $13 billion.


June 13, 2017

Chinese audit regulators get tough

China Accounting Blog / Chinese regulators have banned the Chinese affiliate of BDO from auditing public companies for two months, the second suspension the firm has faced this year.  In January, both BDO and Ruihua, the Chinese affiliate of both Crowe Horwath and RSM, were banned for two months. The penalties seem harsh by international standards.


June 13, 2017

Five Questions for Understanding Didi, Mobike, and China's New Micro-Rentals (Pt 2)

LinkedIn / In Part 1, I argued that there is no new Chinese "sharing economy" - which is why new Chinese businesses like Didi, Mobike, and micro-rentals for basketballs, batteries and umbrellas are kind of confusing. What is really happening is something much more interesting: the emergence of new digital disruptors in access and convenience.


June 13, 2017

There Is No New Chinese “Sharing Economy”. Didi, Mobike, and Others Are Classic Disruptors (Pt 1)

LinkedIn / In the past month, there has been a lot of talk about China’s new “sharing economy”. Articles in the New York Times, Fortune, Bloomberg, and the South China Morning Post have all cited ride-sharing (Didi), bicycle rentals (ofo, Mobike), and the new micro-rental services for batteries, basketballs, and umbrellas as part of a new China “sharing economy”. But this is not really true. The term "sharing" is misleading. And it all misses a much more interesting phenomenon: the emergence of a new type Chinese disruptor.


June 9, 2017

High-value future

China Daily / Improving information systems in China's traditional industries seen as crucial to upgrading. Countries, like companies, have to change their business models as world circumstances change. In the early 2000s, China's development model was based on low-wage manufacturing combined with high savings and investment rates. The very success of that model in drastically raising living standards has now led the Chinese government to adopt an ambitious set of policies to upgrade China's industry, to escape the so-called middle-income trap and to support a green environment.


June 9, 2017

Why Trump's climate decision may backfire

China Daily / US president's decision can be understood in the context of the nation's politics. On June 2 in the Rose Garden of the White House, US President Donald Trump announced that the United States would leave the Paris climate agreement, struck between 197 countries in December 2015. The decision was greeted with widespread dismay and anger around the world. Even in the US, city mayors and state governors, like Jerry Brown, governor of California, strongly criticized Trump's decision to take the US out of the initiative.


June 6, 2017

Why Didi is raising so much cash

Nikkei Asian Review / Chinese ride service Didi Chuxing raised $5.5 billion in May, adding to more than $10 billion it raised last year. Assuming it is no longer burning through $1 billion a year as it did during its fight for Chinese market share with Uber, Didi now has a staggering cash balance for a startup, perhaps as much as $13 billion.


June 5, 2017

China needs a new breed of companies

Nikkei Asian Review / After nearly 40 years of strong economic growth, many of the factors that led to China's economic rise are no longer working their magic. The once-abundant labor force is aging and increasingly expensive, the forces of globalization are in retreat, credit-fueled investment has resulted in a pile-up of corporate debt and overcapacity is everywhere. The once strong faith in China's long-term prosperity held by entrepreneurs and corporate founders is eroding. The ongoing economic transition poses many challenges for those national champions, many of which are debt-laden and failing to deliver reasonable returns.


June 2, 2017

Building today for a better tomorrow

China Daily / State-owned enterprises, startups expected to help transform new area into an economic success story. Bringing in the right mix of talent will be crucial for the expansion of the Xiongan New Area in North China's Hebei province. Since the area was designated an economic zone, State-owned enterprises, or SOEs, startups and institutions have expressed interest in moving there. "The planned Xiongan New Area is of national significance and needs to bring in first-rate talent to start innovative business and construct the economic zone," said Yuan Tongli, Party chief of the preparatory committee of Xiongan.


May 30, 2017

How I Went From Failed Writer to 1M LinkedIn Followers

LinkedIn / I recently reached 1M followers on LinkedIn. And this is crazy. Because not that long ago, I was nowhere as a writer. For years, I had published books, written articles, and so on - but nothing had really worked. I was a failed writer, despite over five years of effort. Looking back, it is clear to me that it was LinkedIn (and self-publishing books) that made all the difference. So this is a thank you / quasi-love letter to LinkedIn. Well, as much as a grown man should ever write a love letter to a corporation.


May 26, 2017

EU-China summit comes at crucial time

China Daily / Europe hoping to harness some of Belt and Road's bustling energy for its own purposes and gain better access to Chinese market. In 2013, in speeches delivered in Kazakhstan and Indonesia, President Xi Jinping introduced the concept of reviving the ancient routes that linked Europe with China via camel-borne and ship-borne trade. There were many doubters in the West. The project seemed so vast, requiring so much investment and so many countries to sign on and participate, that it seemed unlikely to see the light of day for years to come.


May 25, 2017

Panel discusses sticking points of bilateral trade

China Daily / US-Sino relations, trade between the world's two largest economies, and debt dominated a panel discussion on China, the US and the global economy in New York on Wednesday. Joseph Lake of the Economist Intelligence Unit moderated the discussion at the 2017 Peking University Guanghua New York Forum. Panelists were Hongbin Cai, a professor at Peking University's Guanghua School of Management; David Dollar, a senior fellow at the Washington-based Brookings Institution; and Simon Jin, managing director and president of greater China for S&P Global.


May 23, 2017

Hong Kong's Short-Seller Invasion Spurs Unusual Defense Plan

Bloomberg / One of Hong Kong’s most high-profile targets of activist short sellers has hatched an unorthodox plan to fight back. It’s called the “anti-malicious short selling alliance.’’ The idea is for companies to band together when bearish traders pounce, sharing crisis-management advice and in some cases even offering equity investments. Fullshare Holdings Ltd., the property company that unveiled the plan on Monday, has faced allegations from two short sellers in the last month.


May 18, 2017

Murder case highlights property money trail from China to US

FT / A record bail posted in a California court for one of the accused in a murder case has thrown the spotlight on a property fortune that traces its roots to the Chinese military, in a graphic illustration of how money made in China has flooded overseas real estate markets. Tiffany Li is a Chinese-American heiress accused of ordering a hit on her ex-boyfriend in San Mateo county, a leafy suburb of San Francisco where Teslas are more common than violent crime. In April she posted $4m in cash and $62m in California property as bail — among the highest ever posted in the US.



May 16, 2017

Why Europe’s top football clubs are changing their approach to cracking China market

SCMP / You get the sense that China is on the minds of German football club Bayern Munich’s directors and managers. Over the last month alone, three significant announcements (or should that be pronouncements?) have come out of the club about football’s hottest current market. Bayern president Uli Hoeness has asserted that Germany’s biggest club is keen to make the most of the growing interest in football in China and is looking to sign a Chinese player. Hoeness is reported as having said that “fielding a Chinese player could prove to be very lucrative for [us]”.


May 16, 2017


China Looks Overseas for Designers to Build Brands

Bloomberg /
When evaporating profit margins prompted China’s Zhejiang Willing Foreign Trading Co. to launch its own brand for yoga wear last year, it spurned homegrown talent and turned to a French freelance designer. "Chinese designers just don’t have good taste for foreign markets," said Zhang Tao, assistant manager at the Hangzhou-based company. "Chinese businesses have been good at manufacturing but now we have to change our mindset. Brands are the future."


May 15, 2017

FT Executive Education Rankings 2017: analysis

FT / IMD and Iese Business Schools have tightened their grip on the top spots of the twin FT executive education rankings, monopolising first and second places for both open-enrolment and customised programmes. Swiss school IMD comes top in the 2017 ranking of open-enrolment courses, available to all working managers. It also jumps two places to second in the ranking of customised programmes, which are tailor-made for corporate customers. Iese of Spain holds on to the top spot in the custom ranking and remains second in the open ranking.   


May 14, 2017

3 Forces That Determine Success or Failure in Consumer China

LinkedIn /
*The following is an excerpt from the One Hour China Consumer Book, which is available for free this week (available here). "Robert Ravens is an Australian farmer and the creator of the “Bobbie Bear”. He lives on a remote Tasmanian farm and uses excess lavender from his fields to make bright purple teddy bears. The lavender is stuffed into the bears along with some wheat and a heat pack. The fragrant teddy bears can then be heated in a microwave, which apparently makes them nice to sleep with. He mostly sold his Bobbie Bears online and in his farm’s gift shop.


May 12, 2017

Peking University to open medical center in Xiongan

China Daily / Peking University has vowed to fully support the Xiongan New Area, a new economic zone about 100 kilometers southwest of Beijing, including opening a medical center to train high-level professionals. The move was disclosed after Zhao Kezhi, Party chief of Hebei province, and provincial governor Xu Qin held talks with the prestigious university's Party chief Hao Ping.


May 9, 2017

PKU-GSM FC Barcelona Sports Management Center

Youtube / FC Barcelona and PKU Guanghua launch a joint, sports management in China. FCB Chairman, Mr. Bartomeu, and the first team gaol keeper, Ter Stegen, discuss this significant moment.


 


May 9, 2017

New 2017 Version of One Hour China Book Now Available

JeffreyTowson / Jonathan Woetzel and I have just released a new 2017 version of our One Hour China book (here). We originally released it in 2013 and it (quite surprisingly) jumped onto the best-seller list (for China). It has more of less stayed on the best-seller list for the past three years.


 Apr. 28, 2017

Crucial player


China Daily / With huge financial firepower at its disposal, AIIB could prove vital to sustaining global growth. Investment in Asian infrastructure might seem to many in the West like a mere regional concern - yet it could hold the key to sustaining global growth and providing jobs both in Europe and even in Donald Trump's Rust Belt. Asia - which has been the engine of global growth for a decade or more - needs to spend $1.7 trillion a year on infrastructure up to 2030 just to maintain its current growth levels, according to the Asian Development Bank. It is currently spending just around half of that, $881 billion.



Apr. 25, 2017

Chinese Takeover Bid for US-based MoneyGram Scrutinized

VOA / - The financial industry is closely watching Alibaba affiliate Ant Financial's attempt to acquire Dallas-based MoneyGram International, the world's second biggest money transfer company after Western Union. Ant is offering $1.2 billion, more than U.S.-based competitor Euronet Worldwide. If successful, the deal would turn Ant Financial into a financial behemoth with access to MoneyGram's vast network of 350,000 outlets of retail shops, post offices and banks across 200 countries. At present, Ant's business is largely based on the Chinese yuan. The acquisition would also give it access to U.S. dollar funds and escrow accounts for managing the funds.



Apr. 24, 2017

Chinese bike-sharing start-up says it’s now worth more than US$2 billion

CNBC / Chinese bike-sharing startup Ofo now says it is worth more than US$2 billion. CEO Dai Wei, a 26-year-old entrepreneur who named his firm Ofo as the letters look like a bike, revealed that figure in a conversation with CNBC. It’s about double the last reports of the company’s value — which came out less than two months ago. Such a valuation isn’t too shabby for a company that started about two years ago with its founders pooling private savings of 150,000 yuan (US$21,800) to kick things off.


Apr. 24, 2017

5 More Life Lessons from Lunch with Warren Buffett


LinkedIn / I have written a lot about my trip with 20 Peking University students to meet Warren Buffett. A couple of Buffett’s comments from that Omaha meeting have really stuck with me. They have been rattling around in my head and have made me question how I am living. In this article, I detail the five more of these Buffett “life lessons”. Part 1 can be found here.



Apr. 18, 2017

No, First Quarter Numbers Don’t Mean Growth Has Bottomed Out

Carnegie Endowment / Anyone reading news reports about the Chinese economy a year ago might have thought the country was on the verge of financial collapse. There seemed at the time plenty of evidence supporting those who expected an economic breakdown: debt was surging at unprecedented rates, regulators were in disarray following a stock market collapse the previous summer, and liquidity panics periodically swept through the banking system. In addition, so much capital was fleeing the country that even a huge current account surplus couldn’t prevent central bank reserves from eventually declining by nearly a quarter from their June 2014 peak.


Apr. 17, 2017

Chinese bike-sharing start-up Ofo says it's now worth more than $2 billion


CNBC / Chinese bike-sharing startup Ofo now says it is worth more than $2 billion. CEO Dai Wei, a 26-year-old entrepreneur who named his firm Ofo as the letters look like a bike, revealed that figure in a conversation with CNBC. It's about double the last reports of the company's value — which came out less than two months ago. Such a valuation isn't too shabby for a company that started about two years ago with its founders pooling private savings of 150,000 yuan ($21,800) to kick things off.



Apr. 13, 2017

Jeffrey Towson: China embraces bike-sharing like nowhere else


Nikkei Asian Review / Bike-sharing has taken off in China far faster than in any other market where it has been offered. The unexpected popularity of the services has attracted lots of investment capital and media coverage. However, it is also raising questions about profitability, widespread bike vandalism and theft, and growing government regulation. Hype, scrutiny and liquidity have overwhelmed a nice, convenient and surprisingly popular service. Why did bike-sharing take off so rapidly in China versus other countries, especially when bikes could already be purchased here for as little as $7? Chinese services like Mobike and Ofo are entering markets overseas like Singapore, London and Silicon Valley, but will they catch on more than previous attempts there? Could these services all be a fad?



Apr. 12, 2017

United Airlines Just Got Dragged Down the Aisle by Chinese Consumers


LinkedIn / The video of bloodied David Dao being dragged down the aisle of a United Airlines flight went global on late Sunday. It became news everywhere but it was the reaction in China that was probably the most surprising for United Airlines. There are lots of opinions as to why the Chinese reaction was so strong - but the simplest explanation is that it just looked like an Asian man (of then still-unidentified origin) being abused. Chinese netizens jumped into action almost immediately.


Apr. 11, 2017

Will Alibaba, Tencent, or Wanda Win in Chinese Entertainment? (Pt 1 of 2)


LinkedIn / Alibaba Pictures and Tencent Pictures are two companies I keep a close eye on. They appear very well positioned to win big in Chinese entertainment. And they are making unconventional moves in an industry that is both emerging and being disrupted at the same time. I recently spoke with a colleague at Alibaba Pictures. It was a fascinating talk and, honestly, I had a slight pang of envy. Entertainment is just a cool field. Much sexier than my focus on mostly healthcare. And to be at the center of this industry as it emerges in China must be fascinating. Plus the parties are probably awesome.



Apr. 3, 2017

Mexico’s Positive Impact on the U.S. Trade Balance


Carnegie Endowment /  While some countries still enact mercantilist policies that directly affect the relative prices of traded goods in ways that David Ricardo would have understood two hundred years ago, in today’s global trading environment, persistent trade surpluses are usually caused by distortions in income distribution that force up savings rates. These high savings rates, which are almost always mistakenly attributed to a country’s thrifty habits— just as low U.S. savings rate are foolishly attributed to spendthrift American habits— create demand deficiencies that must be resolved with trade surpluses.



Apr. 2, 2017

Can China's bike-sharing boom last?


Nikkei Asian Review / Bike-sharing has taken off in China far faster than in any other market where it's been offered. The unexpected popularity of the services has attracted lots of investment capital and media coverage. However, it is also raising questions about profitability, wide-spread bike vandalism and theft, and growing government regulation. Hype, scrutiny and liquidity have overwhelmed a nice, convenient and surprisingly popular service.



Mar. 31, 2017

Can China and US build a better world?

China Daily / Information age fosters deep mutual understanding between countries that must cooperate to survive and thrive. The most important relationship in the world? It's China and the United States, both economic superpowers towering above the rest, and whose interdependence led the historian Niall Ferguson to coin the expression "Chimerica".
China's rise to global greatness has been swift enough to surprise the rest of the world, especially the US. However, such a swift rise is not unique. Along with other sudden large-scale disruptions, like France under Napoleon from 1799, or Germany after unification in 1871, these events have created precedents for today's predictions of doom.


Mar. 29, 2017

Guanghua-Kellogg EMBA program leverages mutual strength

China Daily / Three years ago, the Kellogg School of Management at Northwestern University partnered with Peking University's Guanghua School of Management, setting up China's first English-language Executive MBA program. Since then, three cohorts, 101 students have enrolled in the 22-month Guanghua-Kellogg Executive Master of Business Administration program. On March 21, Greg Hanifee, the associate dean of Kellogg's Executive MBA Global Network visited the Guanghua School of Management.


Mar. 29, 2017

Guanghua-Kellogg EMBA program leverages mutual strength

Ecns.cn /  Three years ago, the Kellogg School of Management at Northwestern University partnered with Peking University's Guanghua School of Management, setting up China's first English-language Executive MBA program.
Since then, three cohorts, 101 students have enrolled in the 22-month Guanghua-Kellogg Executive Master of Business Administration program. On March 21, Greg Hanifee, the associate dean of Kellogg's Executive MBA Global Network visited the Guanghua School of Management.


Mar. 27, 2017

3 Ways President Xi and King Salman Can Move China and Saudi Arabia Beyond Oil

LinkedIn / Earlier this month, Saudi Arabia’s King Salman bin Abdulaziz Al Saud met with Chinese President Xi Jinping in Beijing. Saudi Arabia is now aggressively seeking foreign investment to diversify its economy away from oil. So this meeting in China was arguably the most important of the King’s month long Asia trip.


Mar. 23, 2017

Disney chooses its battles in Malaysia and China


Nikkei Asian Review / Walt Disney's "Beauty and the Beast" missed its original opening date in Malaysia due to the company's refusal to accept cuts by state censors involving a gay character. But the movie opened on time and in a big way in China, in complete, unedited form.



Mar. 22, 2017

Disney's Beauty & the Beast Saga is About China & Malaysia - But Also About Emerging LGBT Asia


LinkedIn / Disney’s Beauty and the Beast indefinite delay in Malaysia, due to its “exclusively gay moment”, has been lifted. Disney refused to release the movie in the country without it and Malaysia caved.Meanwhile, the movie has opened huge in China, with 100,000 reported screenings on its opening night. This constituted 43% of China’s screenings that night.

Mar. 11, 2017

Supreme Court decision little help to investors

China Accounting Blog / A recent China Supreme Court decision related to Ambow Education’s VIE appears to provide little comfort to investors in VIE structures.  I have had a chance to discuss this ruling with some Chinese experts, and provide here a layman’s interpretation while we await a good legal analysis in English. The case was a suit brought by Hunan Changsha Yaxing Company (Yaxing) against Ambpw’s VIE.

Mar. 10, 2017

2016 was turning point for economy

China Daily / Prospects brighter this year because of wide-ranging changes through which China has shown its resilience. The sense of satisfaction with which the Chinese government delivered its annual work report to the joint meeting in Beijing of the 12th National Committee of the Chinese People's Political Consultative Conference and 12th National People's Congress is understandable.The US financial crash of 2008 and the economic depression that followed it seriously unbalanced the global economic equilibrium. Globally interdependent China, which was deeply affected by the crisis, responded quickly by opening the taps of fiscal stimulus.

Mar. 10, 2017

New China Supreme Court decision on VIEs

China Accounting Blog /  There has been an important decision in China with respect to the enforceability of VIE contracts.  The attached article (in Chinese) explains a decision of China’s Supreme Court upholding the enforceability of Ambow Education’s VIE contracts.  I am going to wait for some Chinese lawyers to better explain the rationale of the case, but it seems to rest on the conclusion that the arrangements do not result in impermissible foreign control of restricted industries. That would seem to be contrary to earlier decisions.

Mar. 9, 2017

Alibaba Pictures is the company to watch in Chinese entertainment

Nikkei Asia /  Two years into Alibaba Group Holding's push into entertainment, its movie arm has a growing pipeline of produced and acquired content. Alibaba Pictures is regularly doing domestic and Hollywood deals for film production, financing and distribution. And it is making unconventional moves in cinema software, online videos, ticketing apps and film crowdfunding.

Mar. 8, 2017

I Took 20 Chinese Students to Meet Warren Buffett. Here’s What Happened (Pt. 3 of 4))

LinkedIn / In February 2017, I chaperoned 20 business students from Peking University to meet Warren Buffett in Omaha. It turned out to be a once-in-a-lifetime trip, an investment pilgrimage of sorts.In 4 articles, I document what happened and what we learned. I have included a lot of detail, especially on the Berkshire companies we visited and on Warren’s comments. So this is a pretty long account. This article is Part 3 (Part 1 is here and Part 2 is here)

Mar. 7, 2017

I Took 20 Chinese Students to Meet Warren Buffett. Here’s What Happened (Pt. 2 of 4)

LinkedIn / In February 2017, I chaperoned 20 business students from Peking University to meet Warren Buffett in Omaha. It turned out to be a once-in-a-lifetime trip, an investment pilgrimage of sorts. In 4 articles, I document what happened and what we learned. I have included a lot of detail, especially on the Berkshire companies we visited and on Warren’s comments. So this is a pretty long account. This article is Part 2 (Part 1 is here).

Mar. 6, 2017

I Took 20 Chinese Students to Meet Warren Buffett. Here’s What Happened. (Pt. 1 of 4)

LinkedIn / In February 2017, I chaperoned 20 business students from Peking University to meet Warren Buffett in Omaha. This was the first group from Peking University to ever meet with Mr. Buffett - and only the second school ever from China. It turned out to be a once-in-a-lifetime trip, an investment pilgrimage of sorts.

Mar. 3, 2017

China Taking Political Risks for Economic Reforms, Foreign Investments

VOA / China is responding to international criticism that it gives favorable treatment to state-owned enterprises (SOEs) while neglecting of the needs of foreign companies, and even foreign markets that buy Chinese goods.Releasing the annual work report, or budgetary proposals, in the National People's Congress (NPC), Chinese Premier Li Keqiang signaled a crackdown on loss-posting "zombie enterprises" among the SOEs, and promised to make life easier for foreign investors.

Mar. 1, 2017

Trump Infrastructure Plan Seen as Key to Dodging China Trade War

Bloomberg / Donald Trump’s plan to spend big on infrastructure may determine whether the U.S. and China end up slugging it out in a trade war. The link between those seemingly independent variables all comes down to jobs. If a splurge on airports and rail networks boosts employment and growth in the U.S., there’ll be less need to deliver on promises to deal with the China trade issue, said Michael Pettis, professor of finance at the Guanghua School of Management at Peking University in Beijing.


Feb. 28, 2017

China and the History of U.S. Growth Models

Carnegie Endowment / As regular readers know, I have often argued that the Chinese development model is an old one and can trace its roots at least as far back as the American System of the 1820s and 1830s. This system was itself based primarily on the works of the astonishing first U.S. Secretary of the Treasury, Alexander Hamilton. (See especially his three main reports to Congress: his “First Report on The Public Credit” of January 14, 1790; his “Second Report on The Public Credit” of December 13, 1790, and most importantly his brilliant “Report on Manufactures” of December 5, 1791. The “Second Report on The Public Credit” is sometimes also known as the “Report on a National Bank.”)

Feb. 28, 2017

Building Binge: ADB Calls for More Infrastructure Across Asia

The Wall Street Journal / Asia needs at least $1.5 trillion of roads, bridges and other infrastructure annually between now and 2030 to maintain its growth momentum, a doubling of earlier projections, according to the Asian Development Bank. In a report released Tuesday, the Manila-based development bank said the tab would run even higher if climate change is factored in: Upgrading power plants, transport systems and other facilities would boost regional investment by another $241 billion annually among some 45 Asia and Pacific countries.

Feb. 28, 2017

Growth In China's Private Education Spending Fuels IPO, Fortune

Forbes / China Yuhua Education, which educates nearly 50,000 students at its network of private schools in China, has become the latest business to benefit from the country's growth in education spending.The company's shares rose by as much as 10.7% from their listing price of HK$2.05 on debut at the Hong Kong Stock Exchange today.

Feb. 26, 2017

Warren Buffett's Q&A with Peking University on February 17, 2017

LinkedIn / On February 17, 2017, I took 20 Peking University students to Omaha to spend a day at Berkshire Hathaway. The trip included 3 company visits, a 2.5 hour Q&A with Warren Buffett, and then a steak lunch with him. I’m writing up the whole experience and will post it shortly. This was his first meeting with Peking University and his second with a student group from China.

Feb. 24, 2017

How much is enough? 'We can't really say'

China Daily / Too much in foreign exchange reserves may actually be harmful, academic says. Michael Pettis believes China has probably double the minimum foreign exchange reserves it needs. The professor of finance at Peking University's Guanghua School of Management also insists that January's fall in the level to below $3 trillion is a non-event."What is the right amount of reserves for China? You know, there is no real science to it so we can't really say but I doubt it is much above $1.2, $1.3 or $1.4 trillion, so they now probably already have twice as much as the minimum amount they need."

Feb. 24, 2017

Queue-jumping initiative

China Accounting Blog / Reuters has an interesting report that says Chinese regulators plan to allow some of China’s largest tech firms to jump the queue to list in China. 

Feb. 20, 2017

7 Things I Learned from Lunch with Warren Buffett

LinkedIn / Last week I took twenty Peking University students to Omaha to spend a day at Berkshire Hathaway. The trip included 3 company visits, a 2.5 hour Q&A with Warren Buffett, and then a steak lunch with him. I’m writing up the whole experience and will post it shortly (including the Q&A).

Feb. 13, 2017

My Visit to Oriental DreamWorks - And Why Animation is Booming in China

LinkedIn / Of the 19 million students in Chinese universities in 2009, over 1 million were studying art and design. Think about that number for a moment. One million students studying painting, design and other creative arts. That is larger than the student populations studying chemistry, law, or economics.

Feb. 10, 2017

Gearing up<

China Daily / As Trump calls on manufacturers to return to the US, what are the prospects for China's industrial strategy?Where next for manufacturing? The geographic location of factories and production has become one of the more hotly debated issues in recent months.At an executive meeting of the Chinese State Council, chaired by Premier Li Keqiang on Dec 28, a guideline was issued to encourage more foreign investment in high-end manufacturing in China.

Feb. 6, 2017

My 5 Predictions for Chinese Consumers in 2017

LinkedIn / In the past 2 years, Chinese consumers have arrived as a global economic force. And this is really just the beginning. We are going to see an increasing impact by these consumers on business going-forward. So here are 5 predictions for Chinese consumers for the coming year.

Feb. 2, 2017

Is Peter Navarro Wrong on Trade?

Carnegie Endowment / Whether the U.S. current account deficit is harmful or not to the U.S. economy depends on the assumptions we make about capital scarcity. In a world awash with excess capital and insufficient demand, the U.S. current account deficit is a drag on growth.

Jan. 30, 2017

How Trump's Fight with Mexico and NAFTA Could Help China

LinkedIn / When it comes to the USA, Chinese and Mexican manufacturers have long been rivals. Both groups export fairly similar types of goods. Both have advantages in lower cost labor. And they are now the No 1 and No 2 exporters to the US. But while Chinese manufacturers have become dominant in most product categories, Mexican manufacturers have been more successful in a few key sectors, especially in cars and autoparts. And this has a lot to do with NAFTA (the North American Free Trade Agreement).

Jan. 27, 2017

Mexico's losses could be China's gains

China Daily / Trump's recent pronouncements about auto imports and NAFTA may knock out nation's biggest competition. When it comes to the United States market, Chinese and Mexican manufacturers have long been rivals. Both groups export fairly similar types of goods. Both have advantages in lower labor costs. And they are now the No 1 and No 2 exporters to the US. In most sectors, whether it is toys or laptops, Chinese manufacturers have become dominant.

Jan. 24, 2017

My Favorite China Articles for January 2017

LinkedIn / I send out a monthly reading list with the best China articles (and books) I have come across. If you would like to be on this list, you can sign up at www.jeffreytowson.com. Also, if you come across any really great articles, please send them to me. Here's my list for January 2017.

Jan. 19, 2017

Debate: Can China survive Trump?

The Korea Herald / This week, President Xi Jinping attends the Davos forum for the first time -- a sign of how concerned China is about a possible retreat from globalization. Till now, easy access to world markets has underpinned the country’s remarkable expansion. How badly Chinese growth could be hurt by new trade barriers may be the most pressing question facing the world economy.

Jan. 19, 2017

3 Options for Bringing Private Health Insurance to China (Part 2 of 2)

LinkedIn / In Part 1 (located here), I argued that there is a growing supply-demand gap at the center of Chinese healthcare. And that private health insurance in the likely the lynchpin in solving this problem.In this article, I lay out three models for launching real private health insurance in China. All three have worked in other locations and require only incremental  regulatory changes.

Jan. 17, 2017

The Growing Supply-Demand Gap at the Center of Chinese Healthcare (Part 1 of 2)

LinkedIn / Private health insurance is arguably both the biggest and the most vexing opportunity in China today. The need is clear. Increasingly wealthy Chinese consumers are growing increasingly frustrated with the public healthcare system. And still nascent private hospitals are struggling to find larger and more stable revenue flows.

Jan. 16, 2017

How to bring private healthcare insurance to China

Nikkei Asia / Private health insurance is arguably both the biggest and the most vexing opportunity in China today. The need is clear: Wealthy Chinese consumers are growing increasingly frustrated with the public healthcare system, and upstart private hospitals are struggling to find larger and more stable revenue flows.

Jan. 11, 2017

Après Uber, McDonald's cède à son tour ses activités en Chine

Libération / Le géant du burger a annoncé qu’il comptait céder 80% de son business dans le pays à un trio d’investisseurs dominé par un énorme conglomérat chinois.

Jan. 11, 2017

Chinese focus turns abroad as domestic market stalls

The National / China is rewiring its business relations with the West in an attempt to boost growth in the midst of a sluggish economy at home. On Tuesday, the Chinese private equity firm, Fosun International, announced it will nearly double its stake in a leading Portuguese bank, Banco Comercial Portuges (BCP), to as much as 30 per cent.

Jan. 9, 2017

The Sale of McDonalds China Should Scare KFC (i.e., Yum! China)

LinkedIn / So McDonalds China is being 80% sold (franchised really) to the Carlyle Group, Citic Capital and Citic Group. This sale is being compared with the recent spin-off of Yum! China (i.e., KFC and Pizza Hut).

Jan. 9, 2017

China Lets Yuan Drop Before Uncertainties of Trump Era

VOA / The Chinese yuan fell against the dollar Monday, following losses Friday. The decline underlines the foreign exchange management challenges for Beijing, which is worried about U.S. President-elect Donald Trump's threat to declare China a currency manipulator. The slide came after the the People's Bank of China (PBOC), the central bank, reset the trading range lower to save the yuan from a market thrashing and a possible currency crisis, analysts said.

Jan. 6, 2017

My Reading of the FT’s “. . . Glimpse of China’s Economic Future”

Carnegie Endowment / The three scenarios listed in a recent Financial Times article set out the range of plausible economic outcomes available to China. The most likely is that China experiences a long, but orderly, growth deceleration as it grinds away at its debt burden, but under easily specified conditions each of the three is possible.

Jan. 4, 2017

Welcome to the US-China Platform Wars (Part 1)

LinkedIn / In the past year, we have seen increasing collisions between leading Chinese and Western platform businesses.

Dec. 31, 2016

What Airbnb Should Do Differently Than Uber in China

LinkedIn / This is really Part 2 in a series of articles of how Chinese and Western platform businesses are increasingly competing. In Part 1, I laid out some basic theory for this (you can read here). Based on this thinking, I think Airbnb should do 6 things differently than Uber in China, says Towson.

Dec. 31, 2016

Cynical PCAOB release

China Accounting Blog / On December 30, 2016, The Public Company Accounting Oversight Board (PCAOB) issued Staff Questions and Answers (Q&A) about the audits of mainland China issuers by registered firms outside of mainland China. The Q&A is not an official PCAOB position, but is intended to guide PCAOB staff when dealing with the relevant issues.

Dec. 30, 2016

China Sells Off Stock of US Treasury Securities to Protect Yuan

VOA / China recently lost its position as the biggest holder of U.S. Treasury securities to Japan. Chinese authorities sacrificed the coveted position, which has significant financial and diplomatic value, because they are engaged in the bigger battle of protecting the value of the yuan from falling rapidly.

Dec. 21, 2016

How I Failed as a Writer for 5 Years Before Becoming a LinkedIn Top Voice

LinkedIn / Last week, I got the welcome news that I am one of LinkedIn's Top Voices for 2016. And it was for Finance and Economy, which was especially gratifying because I have been struggling in that writing genre for over 5 years, says Prof. Towson.

Dec. 19, 2016

Why Airbnb Thinks It's The Silicon Valley Firm That Will Finally Crack China

Forbes / Airbnb, the online alternative to hotels, has moved to scale up its presence in China, just months after another of Silicon Valley’s most rapacious startups, Uber, sold up and reversed in the opposite direction.

Dec. 16, 2016

A U.S. Retreat on Global Trade Will Not Lead to a Shift in Power

Carnegie Endowment / Rejecting the Trans-Pacific Partnership should not mean the rejection altogether by Washington of the very idea of a stable, rules-based trading system. The world is better off with such a regime. The very first on the list of executive actions that his administration would implement from “day one,” according to U.S. President-elect Donald Trump in his November 21, 2016, video clip, involved a U.S. retreat on trade:  “I am going to issue a notification of intent to withdraw from the Trans-Pacific Partnership, a potential disaster for our country. Instead, we will negotiate fair, bilateral trade deals that bring jobs and industry back onto American shores.”

Dec. 7, 2016

How I Got 300,000 LinkedIn Followers in 18 Months

LinkedIn / I posted my first article on LinkedIn on May 22, 2015. I labored over it for about a week and then finally hit "Publish". And basically nothing happened.

Dec. 7, 2016

How I Got 300,000 LinkedIn Followers in 18 Months

LinkedIn / I posted my first article on LinkedIn on May 22, 2015. I labored over it for about a week and then finally hit "Publish". And basically nothing happened.

Dec. 2, 2016

Big Data Reveals the Real Picture of China’s Economy, but Can It Survive?

Bloomberg / Wu Haishan was at Princeton studying how schools of fish swim together when the crowd behavior of a much bigger group grabbed his attention: his 1.35 billion fellow Chinese.

Dec. 1, 2016

How Oriental DreamWorks Caught the China Wave

AmCham China / Of the 19 million students in Chinese universities in 2009, over 1 million were studying art and design. That was more than were studying chemistry, law, or economics. As these students have continued to enter the workforce, we are seeing a huge creative class emerge. There are now literally millions of designers, animators, and other creative professionals in Mainland China. They are the vanguard of something fundamentally new: A “Creative China.”

Dec. 1, 2016

Chinese Business Schools:  Where Managers Are Developed

Les Echos / Chinese business schools are part of China's transition towards a new business model. Very well equipped, they strive for world-class status and attract high quality professors-compensating them past European standards.

Nov. 30, 2016

China’s Global Shopping Spree Sparks Opposition at Home, Too

Bloomberg / After facing opposition around the world to its recent dealmaking spree, even China itself is turning against it.Concerns are mounting in Beijing over a surge in outflows that’s causing further devaluation pressure on the yuan and fears that overeager companies may risk biting off more than they can chew.

Nov. 30, 2016

Didi's Cheng Wei Is Forbes Asia's 2016 Businessman Of The Year

Forbes / At first Cheng Wei seems the antithesis of Travis Kalanick, who is known for his forward manner as the CEO of Uber Technologies. Cheng, the founder of Chinese ride-service Didi Chuxing, Uber's counterpart, is bespectacled and cherubic. With his humble demeanor, the 33-year-old can easily pass as a fresh college graduate.

November 27, 2016

Hollywood's Golden Age In China Is Coming To An End

LinkedIn / Hollywood studios have been coming to grips with the fact that China will soon be the world’s largest market for entertainment. Movies increasingly are co-produced by cash-rich Chinese moguls. Chinese stars are cast in supporting roles. Praise for Chinese culture is being randomly stuck into scripts. In some cases, such ploys have paid off: 2015’s “Furious 7” grossed even more in China ($390 million) than in the United States ($353 million), says Prof. Towson.

November 25, 2016

Realities of risk

China Daily / Debt levels in China have become a major focus for policymakers, but experts don't always agree. Is China facing a debt bubble? Housing prices have soared by more than 30 percent in many of the country's tier-one cities, such as Beijing and Shanghai this year alone. Research by the National Institution for Finance & Development, one of China's national-level think tanks and part of the Chinese Academy of Social Sciences, put China's debt at 249 percent of GDP in 2015.

November 23, 2016

Why Doesn’t Starbucks Have A Serious Competitor in China?

LinkedIn / Chinese Wanda is openly challenging Disney. Uber spent $2B fighting with Didi Chuxing. Adidas has been fighting Li-Ning and Anda for decades. And Apple is now struggling against multiple rising Chinese competitors,(Xiaomi, Huawei, Oppo, etc.). One thing you can almost always count on in China: A successful international company will inspire serious domestic competition.

November 17, 2016

Ctrip Appoints Jane Jie Sun As CEO, James Liang Remains Executive Chairman

China Money Network / Ctrip.com International, Ltd. has appointed Jane Jie Sun (pictured) as chief executive officer, as James Jianzhang Liang resigns his CEO post and remains as executive chairman of the board, the firm announced today. Sun will also become a member of the board of directors. The appointments are effective immediately.

November 14, 2016

Should You Do Part (or All) of an MBA in China? A Peking Univ Professor's Opinion

LinkedIn / I've just finished up my fifth year of teaching at Peking University's Guanghua School of Management in Beijing. I've now seen thousands of MBAs come and go. Some do a semester or a year. Some do their entire MBA in China.

November 11, 2016

China's household debt a growing risk to economy

Thomson Reuters / Single-mother Li Ying helps explain why household debt in China may be a bigger risk to the giant economy than previously thought. Faced with expensive medical bills to treat breast cancer, the 38-year-old nurse from Heilongjiang in northern China is struggling to repay her mortgage and relies on financial support from her wider family to pay for her healthcare.

November 11, 2016

China’s accounting market update

China Accounting Blog / For the past four years (2011, 2012, 2013, 2014) I have reported on changes in the rankings of China’s largest accounting firms based on the CICPA’s annual rankings, says Prof. Gillis.

November 10, 2016

China goes local

China Accounting Blog / The struggle between local Chinese and the Big Four accounting firms has been going on since the return of public accounting to China in the early 1980s. China let the Big Eight firms set up representative offices beginning in 1980, and in 1992 allowed the Big Six to enter joint ventures with state controlled firms.

November 8, 2016

How Oriental DreamWorks and "Creative China" Are Disrupting Hollywood

LinkedIn / China is inching closer to becoming the world's largest entertainment market and Hollywood studios are struggling to adapt. Cameos by Chinese film stars are jammed, often nonsensically, into Western movies. Studio executives are flying in to meet with cash-rich Chinese moguls. And praise for China in Hollywood films has become commonplace. This is often described as self-censorship. I tend to use the word "slobbering", says Prof. Towson.

Oct. 28, 2016

Yes, There Is Still Real Growth In China

Forbes / / Earlier this week, China released statistics showing the economy grew by 6.7% in the third quarter of this year. Analysts have expressed doubt that the growth has naturally arisen from productive sources, and some believe the figures would not be possible without government stimulus. As a result, we have to ask whether there really is still profit to be had in China, or whether its downturn signals the end of an era.

October 26, 2016

Why Bike-Sharing (Ofo, MoBike) Is Nothing Like Didi and Uber (i.e., Ride-Sharing)

LinkedIn / Prof. Towson: There has been a lot of talk about Chinese bicycle-sharing recently. Tencent, Warburg Pincus and Sequoia participated in a $100M round for Shanghai-based Mobike. Xiaomi, Citic PE and Coatue participated in a $130M round for Beijing-based Ofo. And Didi Chuxing is reported to have invested in Ofo as well.

October 3, 2016

Baseball Is Copying the NBA's Strategy in China. It's Smart and Could Work

LinkedIn / These are boom times for sports in China. An increased national focus on health and fitness is coinciding with a big increase in entertainment consumption, says Prof. Towson.

September 30, 2016

The impact in China and abroad of slowing growth

China Financial Markets / What does a rebalancing China mean for the world? While the chances of a disruptive adjustment – including a financial crisis – are clearly rising, for now Pettis assumes that China is able to pull off a non-disruptive rebalancing.

September 28, 2016

2016: The Year Chinese Consumers Went Crazy for Sports (Great for Adidas. KFC Not So Much.)

LinkedIn / 2016 is the year that Chinese consumers went sports-crazy. You can see it everywhere. In a city with few gyms and tons of smokers, there is apparently an enormous amount of secret exercising going on, says Prof. Towson.

September 21, 2016

What To Do When You Fail in China (Pt 3): Morgan Stanley and Expedia

LinkedIn / This is the third in a series of articles on companies that have failed in China, often spectacularly. However, in many cases, they later came back and won, also often spectacularly, says Prof. Towson.

September 20, 2016

My impaired Mobike

Sputnik / Mobike offers bike rentals, something I can use to avoid Beijing’s heavy traffic. Mobike’s app opens to a map that shows me the nearest bikes to me, usually only hundred meters or so away, says Prof. Gillis.

September 19, 2016

Reason Why China Benefits From Global Hegemony of Dollar

Sputnik / Many analysts believe that dollar hegemony in the global financial system serves the interests of the United States and China will soon change the situation. In fact, Beijing will continue to maintain the system because of significant benefits, economist Michael Pettis wrote.

September 9, 2016

Hangzhou confirms G20's global role

China Daily / The issues addressed by the final G20 communique underlines its growing importance. They include green finance, corruption, infrastructure, refugees, trade, climate change, etc., said Prof. Chance.

August 27, 2016

Regulatory reform in Hong Kong

China Accounting Blog / There is a turf battle between the Securities and Futures Commission (SFC) in Hong Kong and Hong Kong Exchanges and Clearing (HKEx) over who should regulate new listings in Hong Kong, said Prof. Gillis.

August 18, 2016

U.S. May Finally Get a Peek at the Books of Alibaba, Baidu

Wall Street Journal / A long-running dispute between the U.S. and China over the ability to vet auditors of Chinese companies listed on American exchanges is edging toward a possible breakthrough.

August 9, 2016

Jeffrey Towson -- Uber shows how to win in China

Nikkei Asia Review / Uber invested 18 months and about $2 billion in China. They walked away with 17% of Didi, and therefore 17% of the world's largest on-demand transportation market.

August 8, 2016

Alibaba, Baidu to Be Audited by US’s Public Company Accounting Oversight Board

Yibada / The two companies are currently preparing for the audit and aim to respond to concerns on China's accounting standards and auditing practices.

August 4, 2016

Z-Park reports growth with two-billion-yuan revenue

ChinaDaily / The Zhongguancun (Z-Park) listed companies association held a press conference on August 3 to publish the 2016 Z-Park listed companies competitiveness report.

July 29, 2016

Protecting peace as a nation rises

ChinaDaily / The South China Sea dispute is about defining terms on which China reemerges into the global community as a major power, says Prof. Giles Chance.

July 27, 2016

What Can Yahoo Do With Its Alibaba Stake?

Forbes / Yahoo can either “bite the bullet and pay the taxes” or continue to trade like a closed-end mutual fund representing both Alibaba and Yahoo Japan, says Paul Gillis, a professor of accounting at Peking University’s Guanghua School of Management.

July 27, 2016

Jeffrey Towson - Why Chinese healthcare apps are struggling

Nikkei Asian Review / More than a thousand Chinese healthcare apps have been launched over the past five years. These startups, targeting the intersecting trends of the smartphone boom and healthcare modernization, were supposed to be the next big thing.

July 22, 2016

Global logistics firms battle for air superiority

ChinaDaily / Global logistics companies are battling in China's skies alongside the booming air express industries. And, the growing demand for speedier delivery is driving logistics development across China, including its smaller and more far-flung towns and cities.

June 14, 2016

Jeffrey Towson -- Apple's Achilles' heel in China is services

Nikkei Asian Review / Apple's success in China has been spectacular. But while the "Apple in China" story is usually told in terms of the rise and now leveling off of iPhone sales, it has been just as big a success in terms of building a brand and capturing customers.

July 12, 2016

China Wants To Rate People's Credit With Online Data, But Misuse By Companies Is Rampant

Forbes / “The whole thing is strange,” says Jeffrey Towson, a professor of investment at Peking University’s Guanghua School of Management.

July 4, 2016

Apple's Lawsuit With Media Regulator Points To Broader China Woes

Forbes / “The whole thing is strange,” says Jeffrey Towson, a professor of investment at Peking University’s Guanghua School of Management.

July 8, 2016

Brexit effect yet to be determined

ChinaDaily / Damage may be limited or aggravated by the terms of the exit, and Britain's success in trade ties with countries such as China, says Prof. Chance.

June 23, 2016

Jeffrey Towson: Why time isn't on Disney's side

Nikkei Asian Review / The opening of Shanghai Disneyland raises the question of whether Disney can actually win in China. Can it match its U.S. success as an entertainment company that combines beloved children's movies and real estate?

June 17, 2016

Didi In 'Valuation Fantasy Land' With New $7 Bln Funding

Forbes / “To get 50% of their revenue internationally they are going to do what they did in China in the rest of the world. But where do you find opportunities that big?” says Jeffrey Towson, a professor of investment at Peking University’s Guanghua School of Management.

April 26, 2016

Selfie Absorbed: How China's Beauty Obsession Made Meitu Into A Billion-Dollar Photo-Editing App

Forbes / Founded in 2008 by serial entrepreneur Cai Wensheng, Meitu rules selfie-editing apps in China. Its photo and video touch-up functions can make one look fairer, taller and slimmer with a few clicks.

April 14, 2016

Alibaba's International Ambition Circles Back To Chinese Consumers

Forbes / “To get 50% of their revenue internationally they are going to do what they did in China in the rest of the world. But where do you find opportunities that big?” says Jeffrey Towson, a professor of investment at Peking University’s Guanghua School of Management.