Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Cross Asset Strategy

<ul>
<li><em>Saving face is a deeply, ingrained part of culture in many Asian countries such as Korea and China. </em></li>
<li>We will discuss how saving face could be tied to kicking the debt can in Korea and China as it relates to the Presidential election and the Beijing Winter Olympics.</li>
<li>In conclusion, expect debt related issues to make more headlines in both Korea and China after the Beijing Olympics and Korean Presidential election in early March.  </li>
</ul>


Saving face is a deeply, ingrained part of culture in many Asian countries such as Korea and China. 
We will discuss how saving face could be tied to kicking the debt can in Korea and China as it relates to the Presidential election and the Beijing Winter Olympics.
In conclusion, expect debt related issues to make more headlines in both Korea and China after the Beijing Olympics and Korean Presidential election in early March.  


Saving Face and Kicking the Debt Can in Korea & China (Post Presidential Election & Olympics)

Chief Economist

Diana Choyleva

Enodo Economics

Enodo Economics is an independent macroeconomic forecasting company that untangles complexity, challenges the consensus, and makes sense of the future. Our focus is on China – one of the most misunderstood economies in the world, but one of the most important to figure out.  Enodo’s chief economist, Diana Choyleva, has been analysing China for almost 20 years, while Enodo’s team boasts a combined 140 years’ experience covering China’s economy, politics and markets. 

Macroeconomics

<ul>
<li>China approved new rules to further connect the interbank and exchange bond markets, marking a step closer to unifying its fragmented $20 trillion bond market.</li>
<li>We expect US-China relations to remain fractious and difficult - with fewer major dramas, while China remains determined to keep the Stans sweet - and focused on stability and security.</li>
<li>Xi Jinping’s years-long anti-corruption campaign won’t slow down in 2022 as he told the Party’s top disciplinary watchdog to take a “zero tolerance” approach to corruption.</li>
</ul>


China approved new rules to further connect the interbank and exchange bond markets, marking a step closer to unifying its fragmented $20 trillion bond market.
We expect US-China relations to remain fractious and difficult - with fewer major dramas, while China remains determined to keep the Stans sweet - and focused on stability and security.
Xi Jinping’s years-long anti-corruption campaign won’t slow down in 2022 as he told the Party’s top disciplinary watchdog to take a “zero tolerance” approach to corruption.


Olympics/ Bonds/ US-China/ China-Stans/ Graft

<ul>
<li>The Cyberspace Administration of China set new rules requiring platform companies with data on more than one million users to undergo a security review before listing their shares overseas.</li>
<li>Evergrande, the world’s most indebted developer was last week ordered to demolish 39 buildings of its flagship property project on Ocean Islands, for breaching building approval procedures.</li>
<li>After a spike in Covid cases, China’s tough lockdown of the city of Xi’an has confined 13 million people to their homes and shuttered businesses.</li>
</ul>


The Cyberspace Administration of China set new rules requiring platform companies with data on more than one million users to undergo a security review before listing their shares overseas.
Evergrande, the world’s most indebted developer was last week ordered to demolish 39 buildings of its flagship property project on Ocean Islands, for breaching building approval procedures.
After a spike in Covid cases, China’s tough lockdown of the city of Xi’an has confined 13 million people to their homes and shuttered businesses.


Cybersecurity/ Evergrande/ Covid/ Environment/ Hong Kong

Equity Research in HK and Mainland China

Li Tang

Thematic (Sector/Industry)

<ul>
<li>Quality developers are said to be supported by NAFMII to issue M&amp;A bonds with a long maturity to acquire real estate projects from troubled developers</li>
<li>This adds further fuel to the rumour that financing for M&amp;A activity will be outside of the three red lines</li>
<li>The Politburo December meeting provided a positive signal for property policy that is expected to be echoed in the Central Economic Work Conference statement this week</li>
</ul>


Quality developers are said to be supported by NAFMII to issue M&amp;A bonds with a long maturity to acquire real estate projects from troubled developers
This adds further fuel to the rumour that financing for M&amp;A activity will be outside of the three red lines
The Politburo December meeting provided a positive signal for property policy that is expected to be echoed in the Central Economic Work Conference statement this week


China State-Owned Developer Plans to Issue M&A Bonds on Interbank Market

<ul>
<li>The record low birth rate highlights the fact that China will slide to no.2 in terms of population, which may slow its race to take the economic top spot.</li>
<li>China’s property market is experiencing a period of unprecedented weakness, the result of policies implemented by Beijing to rein in developers' leverage.</li>
<li>China’s tightened regulation of video gaming content will be as harsh as its control of films and television shows.</li>
</ul>


The record low birth rate highlights the fact that China will slide to no.2 in terms of population, which may slow its race to take the economic top spot.
China’s property market is experiencing a period of unprecedented weakness, the result of policies implemented by Beijing to rein in developers' leverage.
China’s tightened regulation of video gaming content will be as harsh as its control of films and television shows.


Birthing/ Housing/ Gaming/ Shipping/ Daring

China

China Evergrande Group was a major Chinese property developer, known for large-scale residential projects and diversified operations in property management, new energy vehicles, cultural tourism, and health industries. The company was founded in 1996 and was headquartered in Shenzhen, China.

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China Evergrande (3333 HK)

Saving Face and Kicking the Debt Can in Korea & China (Post Presidential Election & Olympics)

In this insight, we will discuss how saving face could be tied to kicking the debt can in Korea and China as it relates to the Presidential...

Douglas Kim

Olympics/ Bonds/ US-China/ China-Stans/ Graft

In my weekly digest, I will give you selected summaries, sourced from a variety of local Chinese-language and international news outlets, and...

Diana Choyleva

Cybersecurity/ Evergrande/ Covid/ Environment/ Hong Kong

In my weekly digest, I will give you selected summaries, sourced from a variety of local Chinese-language and international news outlets, and...

Diana Choyleva

China State-Owned Developer Plans to Issue M&A Bonds on Interbank Market

The new move adds further fuel to the rumour that financing for M&A activity will be outside of the three red lines,This is a crucial development...

Li Tang

Birthing/ Housing/ Gaming/ Shipping/ Daring

In my weekly digest, I will give you selected summaries, sourced from a variety of local Chinese-language and international news outlets, and...

Diana Choyleva

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)