Daniel Ren

Shanghai

Daniel Ren

Shanghai Bureau Chief

Daniel Ren is the SCMP's Shanghai bureau chief. A Shanghai native, Daniel joined the SCMP in 2007 as a Business reporter.

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Latest from Daniel Ren

Retailers, manufacturers shutting doors, letting employees work from home as Wuhan viral outbreak spreads

Retailers close shops as travel banned in eight Hubei province cities, and questions remain if factories will face delayed openings after Lunar New Year break.

25 Jan 2020 - 9:17AM

Retailers close shops as travel banned in eight Hubei province cities, and questions remain if factories will face delayed openings after Lunar New Year break.

Retailers, manufacturers shutting doors, letting employees work from home as Wuhan viral outbreak spreads
Shanghai’s mayor orders city’s bureaucrats to undergo a culture change in charm offensive to attract foreign investments

Shanghai’s government is making fresh overtures to woo foreign investments and talent to spur the city’s development.

21 Jan 2020 - 11:22AM

Shanghai’s government is making fresh overtures to woo foreign investments and talent to spur the city’s development.

Shanghai’s mayor orders city’s bureaucrats to undergo a culture change in charm offensive to attract foreign investments
Beijing-Shanghai high-speed railway operator makes bullish debut as China seeks more funds to expand network

Beijing-Shanghai High Speed Railway goes limit-up on trading debut after raising US$4.5 billion in IPO. Its parent company suggests China is planning more listings to bolster nation’s transport system.

16 Jan 2020 - 11:00PM

Beijing-Shanghai High Speed Railway goes limit-up on trading debut after raising US$4.5 billion in IPO. Its parent company suggests China is planning more listings to bolster nation’s transport system.

Beijing-Shanghai high-speed railway operator makes bullish debut as China seeks more funds to expand network
Shanghai aiming for 6 per cent GDP growth in 2020, will bank on foreign investment and exports, mayor says

Shanghai is aiming for 6 per cent growth this year, its mayor told the local legislature on Wednesday. The city, mainland China’s business hub, will tap foreign investment and bolster exports in 2020 following the signing of a phase one deal between Beijing and Washington.

15 Jan 2020 - 11:01PM

Shanghai is aiming for 6 per cent growth this year, its mayor told the local legislature on Wednesday. The city, mainland China’s business hub, will tap foreign investment and bolster exports in 2020 following the signing of a phase one deal between Beijing and Washington.

Shanghai aiming for 6 per cent GDP growth in 2020, will bank on foreign investment and exports, mayor says
China’s B2B deals seen tripling to US$350 billion by 2024 as manufacturers boost digitalisation efforts, study by Bain and Alibaba shows

China’s online business-to-business (B2B) transactions are forecast to triple over the next five years as manufacturers increase digitalisation efforts to enhance efficiency and save costs, according to a study by Bain & Co and Alibaba.

15 Jan 2020 - 11:01PM

China’s online business-to-business (B2B) transactions are forecast to triple over the next five years as manufacturers increase digitalisation efforts to enhance efficiency and save costs, according to a study by Bain & Co and Alibaba.

China’s B2B deals seen tripling to US$350 billion by 2024 as manufacturers boost digitalisation efforts, study by Bain and Alibaba shows
China’s stock market to attract US$43.5 billion in fresh foreign capital this year, UBS says

The mainland Chinese equities market is expected to attract US$43.5 billion in fresh foreign capital this year, as the US-China trade war ebbs and company earnings improve, Swiss investment bank financial services company UBS said on Monday.

14 Jan 2020 - 6:28AM

The mainland Chinese equities market is expected to attract US$43.5 billion in fresh foreign capital this year, as the US-China trade war ebbs and company earnings improve, Swiss investment bank financial services company UBS said on Monday.

China’s stock market to attract US$43.5 billion in fresh foreign capital this year, UBS says
Surging popularity of Nissan, Honda fails to halt 7.5 per cent slump in China’s car sales in 2019 as slowing economy deters buyers

A drop of 7.5 per cent last year came despite a big surge in sales of Japanese cars, prized by Chinese motorists for their perceived superior design and efficiency

9 Jan 2020 - 8:21PM

A drop of 7.5 per cent last year came despite a big surge in sales of Japanese cars, prized by Chinese motorists for their perceived superior design and efficiency

Surging popularity of Nissan, Honda fails to halt 7.5 per cent slump in China’s car sales in 2019 as slowing economy deters buyers
Troubled Baoshang Bank, the first lender seized by Chinese regulators in two decades, to receive 3.6 billion yuan of fresh capital from rival Huishang Bank

Huishang Bank is looking to take a 15 per cent stake in its beleaguered rival as part of a state-backed rescue package after it was seized by regulators last year

9 Jan 2020 - 7:00AM

Huishang Bank is looking to take a 15 per cent stake in its beleaguered rival as part of a state-backed rescue package after it was seized by regulators last year

Troubled Baoshang Bank, the first lender seized by Chinese regulators in two decades, to receive 3.6 billion yuan of fresh capital from rival Huishang Bank
China Evergrande’s shares take a hit after building construction accident in Wuhan claims six lives

Evergrande, which is involved in a massive tourism project in Badeng New City in Wuhan, said it is cooperating with the authorities and will take measures to improve safety checks at the construction site.

8 Jan 2020 - 3:53PM

Evergrande, which is involved in a massive tourism project in Badeng New City in Wuhan, said it is cooperating with the authorities and will take measures to improve safety checks at the construction site.

China Evergrande’s shares take a hit after building construction accident in Wuhan claims six lives
Beijing’s move to direct household savings into equities funds will ensure a bull run in stocks this year, analysts predict

The financial watchdog published a guideline saying it will promote the conversion of household savings into long-term capital market funds

6 Jan 2020 - 10:32PM

The financial watchdog published a guideline saying it will promote the conversion of household savings into long-term capital market funds

Beijing’s move to direct household savings into equities funds will ensure a bull run in stocks this year, analysts predict
Chinese manufacturing hub Suzhou eyes increased foreign investment as it chases fresh growth

As Shanghai, mainland China’s economic hub, moves further towards services, manufacturing could move to cities such as Suzhou, which on Friday earmarked 70 square kilometres of land for such business, with priority to be given to foreign investment.

4 Jan 2020 - 7:42AM

As Shanghai, mainland China’s economic hub, moves further towards services, manufacturing could move to cities such as Suzhou, which on Friday earmarked 70 square kilometres of land for such business, with priority to be given to foreign investment.

Chinese manufacturing hub Suzhou eyes increased foreign investment as it chases fresh growth
Tesla cuts the price of China-made Model 3 cars by 9 per cent to compete with home-grown brands in world’s No. 1 car market

The aggressive pricing, adding to the 10-per cent tax exemption offered by Shanghai’s local authorities, gives California-based Tesla a leg up in China, where it completed building its first factory outside the US a year after breaking ground.

3 Jan 2020 - 11:17PM

The aggressive pricing, adding to the 10-per cent tax exemption offered by Shanghai’s local authorities, gives California-based Tesla a leg up in China, where it completed building its first factory outside the US a year after breaking ground.

Tesla cuts the price of China-made Model 3 cars by 9 per cent to compete with home-grown brands in world’s No. 1 car market
Hong Kong, China stocks start 2020 with solid gains after People’s Bank of China moves to inject cash into economy

“Market players are generally upbeat on this year’s outlook,” said Zhou Ling, a hedge fund manager with Shanghai Shiva Investment. “The central bank’s reduction in deposit reserve ratio cemented their belief in a bull run.”

2 Jan 2020 - 5:39PM

“Market players are generally upbeat on this year’s outlook,” said Zhou Ling, a hedge fund manager with Shanghai Shiva Investment. “The central bank’s reduction in deposit reserve ratio cemented their belief in a bull run.”

Hong Kong, China stocks start 2020 with solid gains after People’s Bank of China moves to inject cash into economy
China foreshadows more reforms in initial public offering rules in 2020 to nurture the growth of the ChiNext stock market

Under existing regime, nearly all mainland IPOs are floated at a price of no more than 23 times earnings to ensure post-listing success. That valuation typically ensures a 44 per cent gain for market debutants, only for losses or volatility to follow thereafter.

2 Jan 2020 - 10:43PM

Under existing regime, nearly all mainland IPOs are floated at a price of no more than 23 times earnings to ensure post-listing success. That valuation typically ensures a 44 per cent gain for market debutants, only for losses or volatility to follow thereafter.

China foreshadows more reforms in initial public offering rules in 2020 to nurture the growth of the ChiNext stock market
Hong Kong again proves itself to be the comeback town, as Hang Seng Index sees 9 per cent gain in roller-coaster 2019

“2019 saw emotion triumph over fundamentals,” said Brock Silvers, managing director at Adamas Asset Management. “The biggest influences were the trade war and Hong Kong’s social unrest. Especially with the former, the market seemed to overreact at every step.”

31 Dec 2019 - 11:02PM

“2019 saw emotion triumph over fundamentals,” said Brock Silvers, managing director at Adamas Asset Management. “The biggest influences were the trade war and Hong Kong’s social unrest. Especially with the former, the market seemed to overreact at every step.”

Hong Kong again proves itself to be the comeback town, as Hang Seng Index sees 9 per cent gain in roller-coaster 2019
Hang Seng Index posts fresh 5-month high; China stocks rise on step making borrowing cheaper

“Market sentiment remains good,” said Kenny Wen, wealth management strategist at Everbright Sun Hung Kai. “People are chasing those sectors lagging behind,” such as Hong Kong property.

30 Dec 2019 - 5:26PM

“Market sentiment remains good,” said Kenny Wen, wealth management strategist at Everbright Sun Hung Kai. “People are chasing those sectors lagging behind,” such as Hong Kong property.

Hang Seng Index posts fresh 5-month high; China stocks rise on step making borrowing cheaper
A 71-year-old victim’s tale reveals extent of greed in China’s US$30 billion peer-to-peer lending fiasco

The collapse of China’s peer-to-peer platforms, once touted as a model to reshape the nation’s financial landscape, has left millions of victims in financial ruin and despair. A 71-year-old retiree tells her story.

30 Dec 2019 - 11:18AM

The collapse of China’s peer-to-peer platforms, once touted as a model to reshape the nation’s financial landscape, has left millions of victims in financial ruin and despair. A 71-year-old retiree tells her story.

A 71-year-old victim’s tale reveals extent of greed in China’s US$30 billion peer-to-peer lending fiasco
Tesla gets preferential rates on US$1.61 billion of loans from Chinese banks as Shanghai plant prepares to roll out Model 3 electric cars next week

Elon Musk has secured the financial backing of four Chinese state-controlled banks for Tesla’s first offshore assembly, giving the US carmaker access to loans at cheaper-than-market rates to complete a cornerstone investment in Shanghai’s new economic zone.

27 Dec 2019 - 11:08PM

Elon Musk has secured the financial backing of four Chinese state-controlled banks for Tesla’s first offshore assembly, giving the US carmaker access to loans at cheaper-than-market rates to complete a cornerstone investment in Shanghai’s new economic zone.

Tesla gets preferential rates on US$1.61 billion of loans from Chinese banks as Shanghai plant prepares to roll out Model 3 electric cars next week
Beijing-Shanghai High-speed Railway cuts IPO size but is still on track for China’s biggest offering since 2015

The operator of the high-speed rail link could raise as much as 29.2 billion yuan (US$4.2 billion), despite cutting the size of its IPO by 17 per cent

25 Dec 2019 - 5:07PM

The operator of the high-speed rail link could raise as much as 29.2 billion yuan (US$4.2 billion), despite cutting the size of its IPO by 17 per cent

Beijing-Shanghai High-speed Railway cuts IPO size but is still on track for China’s biggest offering since 2015
Hong Kong loses to another Chinese port city as container volume grows in busier northern rivals

China’s northern city of Qingdao has surpassed Hong Kong on the list of world’s busiest ports, based on the volume of containers handled this year, as the local economy struggles with falling trade amid a recession.

24 Dec 2019 - 10:33PM

China’s northern city of Qingdao has surpassed Hong Kong on the list of world’s busiest ports, based on the volume of containers handled this year, as the local economy struggles with falling trade amid a recession.

Hong Kong loses to another Chinese port city as container volume grows in busier northern rivals
China stocks fall 1.4 per cent after state fund plans to cut stake in semiconductor firms

Shanghai Composite ends below 3,000-point level for the first time in five sessions.

23 Dec 2019 - 5:17PM

Shanghai Composite ends below 3,000-point level for the first time in five sessions.

China stocks fall 1.4 per cent after state fund plans to cut stake in semiconductor firms
Chinese electric car battery makers out to show the world they have power and quality to go the distance

Industry observers say Chinese EV battery makers have been striving to improve their technology by tying up with foreign companies, investing in R&D and hiring the best overseas talent to match their overseas competitors.

6 Jan 2020 - 11:48AM

Industry observers say Chinese EV battery makers have been striving to improve their technology by tying up with foreign companies, investing in R&D and hiring the best overseas talent to match their overseas competitors.

Chinese electric car battery makers out to show the world they have power and quality to go the distance
JPMorgan’s majority-owned Chinese securities business to start operations, as Beijing makes good on liberalisation promise

Beijing has given US bank JPMorgan Chase the go-ahead to start operating its majority-owned joint-venture in mainland China.

20 Dec 2019 - 7:22PM

Beijing has given US bank JPMorgan Chase the go-ahead to start operating its majority-owned joint-venture in mainland China.

JPMorgan’s majority-owned Chinese securities business to start operations, as Beijing makes good on liberalisation promise
Hong Kong’s Kwok family boosts city with HK$9.4 billion cheque for stake in Sun Hung Kai towers atop West Kowloon station

Hong Kong’s Kwok family will invest HK$9.4 billion (US$1.2 billion) for a 25 per cent stake in office towers to come up on a plot of land won by Sun Hung Kai Properties last month. The family is the company’s controlling shareholder and its investment is being viewed as a show of confidence in the city’s economy.

17 Dec 2019 - 1:13AM

Hong Kong’s Kwok family will invest HK$9.4 billion (US$1.2 billion) for a 25 per cent stake in office towers to come up on a plot of land won by Sun Hung Kai Properties last month. The family is the company’s controlling shareholder and its investment is being viewed as a show of confidence in the city’s economy.

Hong Kong’s Kwok family boosts city with HK$9.4 billion cheque for stake in Sun Hung Kai towers atop West Kowloon station
China’s car parking problem spawns start-ups with big money backers as AI dominance grows

China’s rise as an economic powerhouse is giving its population a passport to financial success while spawning a host of businesses seeking to profit from the shortage of parking spaces in the world’s biggest car market.

16 Dec 2019 - 1:25PM

China’s rise as an economic powerhouse is giving its population a passport to financial success while spawning a host of businesses seeking to profit from the shortage of parking spaces in the world’s biggest car market.

China’s car parking problem spawns start-ups with big money backers as AI dominance grows
Shanghai gets green light to set up duty-free customs area to facilitate direct global trade, in a move that bypasses Hong Kong

Shanghai’s entire bonded territory at Yangshan and Lingang measures 137.8 square kilometres (53.2 square mile), larger than the combined area of Kowloon and Hong Kong Island.

13 Dec 2019 - 10:58PM

Shanghai’s entire bonded territory at Yangshan and Lingang measures 137.8 square kilometres (53.2 square mile), larger than the combined area of Kowloon and Hong Kong Island.

Shanghai gets green light to set up duty-free customs area to facilitate direct global trade, in a move that bypasses Hong Kong
Postal Savings Bank of China makes tepid trading debut in Shanghai as investors collectively shun banking industry

PSBC’s secondary listing is the largest offering on the mainland stock exchanges since 2015, surpassing Guotai Junan Securities’ 30 billion yuan IPO. The Shanghai listing follows its IPO in 2016 when China’s fifth-largest bank by assets completed fundraising of US$7.3 billion in Hong Kong.

10 Dec 2019 - 9:55PM

PSBC’s secondary listing is the largest offering on the mainland stock exchanges since 2015, surpassing Guotai Junan Securities’ 30 billion yuan IPO. The Shanghai listing follows its IPO in 2016 when China’s fifth-largest bank by assets completed fundraising of US$7.3 billion in Hong Kong.

Postal Savings Bank of China makes tepid trading debut in Shanghai as investors collectively shun banking industry
China’s car sales slump 4.2 per cent in November as reluctant consumers stay away from big ticket purchases

China’s car market, the world’s largest, is heading for a second consecutive annual drop.

9 Dec 2019 - 10:46PM

China’s car market, the world’s largest, is heading for a second consecutive annual drop.

China’s car sales slump 4.2 per cent in November as reluctant consumers stay away from big ticket purchases
China poised to name another technocrat to helm top lender with focus on greasing growth engine

China is set to appoint another heavyweight financial technocrat to one of its state-controlled lenders in a move seen at greasing the nation’s growth engine after a year of economic slump.

9 Dec 2019 - 12:52AM

China is set to appoint another heavyweight financial technocrat to one of its state-controlled lenders in a move seen at greasing the nation’s growth engine after a year of economic slump.

China poised to name another technocrat to helm top lender with focus on greasing growth engine
Honda thrives in China’s slumping car market as its Civic, CR-V models prove popular with mainland consumers

Dongfeng Honda Automobile, the Japanese carmaker’s mainland joint venture, believes there are opportunities to be tapped in China’s slowing market.

29 Nov 2019 - 10:30PM

Dongfeng Honda Automobile, the Japanese carmaker’s mainland joint venture, believes there are opportunities to be tapped in China’s slowing market.

Honda thrives in China’s slumping car market as its Civic, CR-V models prove popular with mainland consumers