Yawen Chen
@ywchen1
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Columnist @Reuters @Breakingviews. Previously covered China's economy in Beijing. Views personal 世事洞明皆学问 Tips to: yawen.chen at thomsonreuters dot com
Hong Kong
Joined April 2010
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Seazen was China's eighth-largest developer when its chairman was detained in 2019 for sexually assaulting a nine-year-old girl. Nine months since his imprisonment, Wall Street firms leading the global charge on environmental, social and governance matters still remain investors:
Even after Seazen founder Wang Zhenhua’s imprisonment for child molestation, BlackRock, Pimco and others own the company’s bonds. Such examples make socially conscious investor messages sound like lip service: @ywchen1
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Policy impact on $BABA much worse than expected; ads revenue basically stalled compared to 20% YOY growth last year. This doesn't bode well
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Yawen Chen Retweeted
China's central bank unveiled a new lending programme that could lead to nearly $1 trln of annual investment in clean energy. It’s a bolder policy than from Western peers, says @ywchen1
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It’s interesting to hear discussions now heavily on how long the lag will be between a “policy bottom” & a “market bottom”. Is six months too optimistic or pessimistic? doesn’t necessarily mean a meaningful rebound will follow ofc.
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Tbh, most of us who followed this already had pretty strong doubts that the census figures were artificially inflated to avoid showing outright population decline. The Chinese population is, in all likelihood, already shrinking.
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My feature on Hong Kong and Singapore’s parallel realities:
Entry to Hong Kong from overseas remains tightly controlled with no end in sight to arduous quarantine restrictions. As old rival Singapore welcomes back travellers, Hong Kong’s isolation will get harder to swallow, says @ywchen1:
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Don’t think much of the world appreciates how strict quarantine is in some parts of Asia. Here’s an example from HK.
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One slipper-maker who supplies to global brands like Balenciaga told us he’s lifted prices up by a tenth
China's consumer prices stayed flat despite soaring commodity costs. But the energy crisis and strong exports raise the risk that stretched manufacturers pass the higher costs on to customers at home and beyond, says @ywchen1
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Truly abysmal gender balance in China (right column the share of women at diff levels). Shocking part is ratio is so low even at director general level. figures from Lu Fang of China Law and Politics U
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A former minister in Afghanistan became delivery man in Germany. While interviewing him yesterday, I was constantly reminded of how much a migrant loses in starting over somewhere new.
I wrote part of his story here:
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From @Breakingviews: China's central bank has issued a rare warning to China Evergrande to reduce debt risks, a hint to speed up non-core asset sales. That should calm investors. What will be left, though, looks disappointing, says @ywchen1
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From @Breakingviews: China’s president wants to restrain 'unreasonable income,' hike wages and expand the middle class. Fiscal transfers and social services imply fresh burdens for China Inc, and a long-delayed property tax, @ywchen1 writes
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my latest:
China Evergrande is on a dangerous descent. While Beijing managed the market impact when it allowed quasi-state entity HNA to slide into bankruptcy, it will face far more complex problems if privately-run Evergrande folds: @ywchen1
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EXCLUSIVE U.S. regulator freezes Chinese company IPOs over risk disclosures -sources via @DEER_ECHO_ @murdochsj @GeniusWu
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The latest crackdown on private education services explicitly calls out VIEs - a rare high-level acknowledgement that they are used as loopholes. Separately, China's central bank has asked payment firms to report on their VIE arrangements if they are seeking a listing
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At the speed we are seeing Beijing's new regulatory moves on Chinese companies - the latest one being on delivery drivers' rights (looking at you, Meituan)... you can't help wonder what the most overworked sector is nowadays. Who said civil servant jobs are easy?
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I'm losing count of how many times "crackdown" appears in China stories these days
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China tech story is so wild right now, India is a logical beneficiary.
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