China wants to delist its own companies: the bad ones
New rules to clear the dregs off its stock exchanges
LIKE MANY Chinese companies on the stockmarket, Gangtai Holding, a jewellery-to-property conglomerate, flaunts its listing. It displays its ticker number, 600687, prominently on its website and in its ads. But not for much longer. On January 7th Gangtai began a 30-day period almost certain to end with its ejection from the Shanghai Stock Exchange. It is one of a growing number of Chinese companies to face delisting at home.
This article appeared in the Finance & economics section of the print edition under the headline “Bring out your dead”
Finance & economics January 9th 2021
- Why the crazy upward march in stock prices might just continue
- Why stocks are still cheap relative to bonds
- Is the financial establishment coming round to bitcoin?
- Investors start to pay attention to water risk
- China wants to delist its own companies: the bad ones
- What is the economic cost of covid-19?
- Could the pandemic cause economists to rethink welfare?
From the January 9th 2021 edition
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The great-man theory of Wall Street
Why finance is still dominated by bold individuals
Hong Kong’s property slump may be terminal
Demographics and geopolitics will make a recovery harder
Why everyone wants to lend to weak companies
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American veterans now receive absurdly generous benefits
An enormous rise in disability payments may complicate debt-reduction efforts
Why Black Friday sales grow more annoying every year
Nobody is to blame. Everyone suffers
Trump wastes no time in reigniting trade wars
Canada and Mexico look likely to suffer