“Start out small by aiming for just $15M” Wang recommends
Wang Jianlin’s life advice on how to become a billionaire have gone viral on Chinese social media this week, while more mainlanders get creative in finding ways to borrow more money to buy homes, and there are many more stories if you just read on.
Wang Jianlin Share Lessons on How to Be a Tycoon
China’s property developer Dalian Wanda Group is under the spotlight again. This time for comments its chairman made about goal setting.
“You shouldn’t be that ambitious. Set a small target first, like earning 100 million yuan (about 15 million US dollars)”, Wang Jianlin, Wanda’s chairman and founder, said in an interview as a piece of advice for young entrepreneurs.
He went on, “I mean it’s a target. It’s possible that you can’t make it. But maybe you can earn 80 million and you are also happy. Or 50 million (yuan) is also acceptable.” Read more>>
Mainland Homebuyers Get Creative in Search for More Credit
As the property market in China’s top cities heats up, people like office worker Steve Wang are trying every possible way to take on more personal debt in a bid to grab a piece of the sizzling market.
Described by his friends as a walking encyclopaedia on credit policy, Wang , 37, has obtained “consumer loans” – supposedly for overseas tours or home renovation – and used the money for down payments in property deals. Read more>>
SG’s Value Partners Builds Up Stake in China’s Logan Property
During the second quarter, the Value Partners (Trades, Portfolio) investment firm added to its stake in Logan Property Holdings Company Limited (HKSE:03380). The company added 59,122,000 shares during the second quarter at an average price of HK$2.79. The trade had a 1.71% impact on the fund’s portfolio. It now owns 154,088,000 shares of the company.
Logan Property Holdings Company is an investment holding company. The company and its subsidiaries develops, invests in, and constructs properties in China. Logan Property Holdings operates its business through three segments: Property Development, Property Leasing and Construction Contracts. Read more>>
Outbound Investment by Chinese Corporates Now Exceeds FDI in China
For the first time since China’s open door policy, the first quarter of 2016, Chinese corporates’ direct investment abroad surpassed foreigners’ direct investment in China, according to Natixis Research.
Last summer, China’s stock market collapse and unexpected devaluation, deepened China’s capital outflow problem and accelerated the fall of reserves, which had started in mid-2014, according to Natixis. Reserves have started to stabilize since February, and the onshore-offshore RMB spread has narrowed.
While capital outflows are still large it is not enough for reserves to start falling again. In 2015, the largest net outflows were stemming from the repayment of bank loans, followed by unrecorded outflows by residents of close to 200USDbn (classified as a residual of the financial account in net errors and omissions). Read more>>
Greenland Says Revenues Have Climbed 456% This Year
Greenland Hong Kong Holdings Limited (“Greenland Hong Kong” or the “Company”, stock code: 337.HK), a subsidiary of Greenland Holdings Corporation Limited (“Greenland Holdings”), which is a leading global real estate company, today announced its unaudited interim results for the period ended 30 June 2016 (the “period under review”). For the period under review, the Company recorded a total revenue of approximately RMB5,232 million, an increase of 456% approximately year-on-year. Net profit attributable to owners of the Company was approximately RMB101 million, with a year-on-year growth of 15%. Read more>>
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