MR. SHANGKONG

MR. SHANGKONG

George Chen is Managing Editor for SCMP.com International Edition. He muses about the interplay between the two financial centres, Shanghai and Hong Kong, in his Mr. Shangkong columns online and in print. George, a 2014 Yale World Fellow, is the author of two books about China and Hong Kong. Follow George on Twitter: @george_chen

China tech firms that delisted from Wall Street are now stuck

Renren chairman and CEO Joseph Chen on the floor at the New York Stock Exchange, May 4, 2011. Photo: Reuters

Still remember the news? Just a few weeks ago, more than 20 Chinese internet firms listed in the United States were leaving Wall Street via delistings as many of them were dreaming about relisting in China for higher valuations.

Sunday, 5 July, 2015, 10:41pm 2 comments

Were foreign puppet-masters really behind the tanking Chinese stock market?

This is not the first time 'foreign intervention' has been cited as the culprit behind China's economic or social ill-fortune. Photo: AP

As China’s stock markets sank into bear territory again this week, after panicking investors offloaded their holdings, debate raged as to what exactly had prompted the market to fall with all the speed and ferocity of a sharpened guillotine.

1 Jul 2015 - 6:52pm 13 comments

Will Beijing really be the last rescuer for everyone in the stock market?

Investors who felt that Friday was the end of the world suddenly began talking about what stocks they should buy on Monday morning. Photo: Reuters

The most dangerous idea gaining traction in the Chinese stock market is the naïve consensus among ordinary investors that no matter how bad the market gets, the Communist Party will eventually rescue everyone.

28 Jun 2015 - 8:35pm 4 comments

China Inc is leaving Wall Street for wrong reason

 US-listed Chinese internet companies, including Qihoo 360, have announced plans to take their companies private. Photo: Imaginechina

Have you noticed the new trend on Wall Street recently? China Inc, especially Chinese internet start-ups, are exiting via privatisations and will most likely re-list in China soon.

I'm a big fan of a free capital market so they should be able to go or stay wherever they like. But some of them may be leaving Wall Street for the wrong reason - valuations.

21 Jun 2015 - 9:31pm 3 comments

Honesty is an essential element of China's push for innovation

Baidu initially denied the claims of wrongdoing, saying it had made an "honest mistake". Photo: Simon Song

How innovative is China these days? The answer is getting increasingly unclear after a series of embarrassing events.

First there was Fudan, one of the most prestigious universities in China, and then Baidu, the No1 homegrown search engine. The two incidents have forced people to rethink how competitive China could be, from its education level to its technology development.

14 Jun 2015 - 7:45pm 3 comments

China's start-up mania overlooks the risk of failure

Nowadays in China, probably seven out of 10 people you hear at Starbucks are talking about start-ups. Photo: AP

Nowadays in China, probably seven out of 10 people you hear at Starbucks are talking about start-ups. This is not a joke and I'm getting a bit worried.

7 Jun 2015 - 6:59pm 2 comments

Chinese carmakers get smart about the future

Carmakers were out in force at last week's International Consumer Electronics Show (CES) Asia in Shanghai. Photo: Xinhua

When Google began research on smart cars a few years ago many people felt it was more like a hobby for Google engineers who had time to spare But now everybody takes the idea of future cars seriously.

31 May 2015 - 7:15pm

Behind the scenes at CES Asia in Shanghai, complaints about Chinese copycats

More than 200 technology companies from 15 countries are showcasing their consumer technology innovations at CES Asia which takes place from May 25 to 27. Photo: AFP

While the inaugural Consumer Electronics Show (CES) Asia, taking place in Shanghai this week, has been as jargon-filled as any technology event: B2B, B2C, O2O, etc. But one acronym is only mentioned in private conversations: C2C.

26 May 2015 - 4:39pm 1 comment

Hong Kong snubbed for another IPO as rival Shenzhen gets Focus Media

Focus Media says it will return to the mainland capital market through a reverse merger with a Shenzhen-listed company. Photo: Xinhua

When e-commerce giant Alibaba Group Holding eventually decided to list in New York last year, some Hong Kong officials and bankers sought to defend the snubbed city's long-standing reputation as one of the world's leading financial centres.

25 May 2015 - 3:43am 1 comment

Small change in China's mobile data services shows big power struggle in reform

Premier Li Keqiang says China is the world's biggest mobile phone market, but internet speeds are ranked worse than 80th in the world. Photo: AFP

Premier Li Keqiang has apparently lost his patience in recent weeks about many small but important things.

17 May 2015 - 10:31pm

After government ban, now Guangzhou wants to copy Uber

Guangzhou and Chengdu government officials raided mainland offices of Uber, alleging that it was operating without proper legal status. Photo: Reuters

One of the biggest risks of doing business in China for foreign companies is regulatory uncertainty, and that risk factor is growing bigger these days due partly to fast development of global technology and innovation.

11 May 2015 - 10:50am 3 comments

Power struggles, regulatory uncertainties challenge China's new internet dream

Earlier this year Kuaidi and Didi announced a US$6 billion merger, partly in an effort to work together in a fast-changing regulatory environment. Photo: Simon Song

Premier Li Keqiang has recently become a big fan of the internet. Wherever he goes and speaks, he promotes Beijing's "Internet Plus" strategy, which is aimed at transforming the mainland's labour intensive economy into a more innovative, internet-driven one.

3 May 2015 - 8:09pm 1 comment

So many smartphone launches to cover in China: is a bubble in the making?

Smartphones on show at the Global Mobile Internet Conference in Beijing this month. Photo: Reuters.

For tech reporters in China these days, time management is really challenging, thanks to the almost non-stop rounds of launches of all kinds of new products. Sometimes they are forced to choose which company to cover, a dilemma when all are likely to be equally newsworthy.

29 Apr 2015 - 10:34am

From Zuckerberg's Chinese to Lei Jun's English: tech leaders busy learning foreign languages

Mark Zuckerberg spoke to students at Tsinghua University in Beijing in Putonghua. Photo: AP

Tech industry leaders from Silicon Valley to Beijing have at least one shared hobby – learning a foreign language as soon as possible – whether it be Putonghua for Facebook’s Mark Zuckerberg or English for Xiaomi’s Lei Jun.

28 Apr 2015 - 9:30pm 3 comments

Why a ZTE-Huawei lawsuit could be a good thing for Chinese tech innovation

ZTE is threatening to sue Huawei for violating two camera technology patents used in ZTE's smartphones, an accusation Huawei has denied. Photo: Reuters

Many Chinese technology companies have a mixed reputation on the world stage, frequently being accused by foreign competitors of copying technological solutions and product designs. However, up to now it has been rare to hear mainland tech firms level these types of accusations at each other.

26 Apr 2015 - 9:39pm

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