Word: shenzhen
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...Shenzhen may be a lovely place to visit, but I wouldn't know. Like many tourists to this southern Chinese boomtown, I barely got past the first shopping mall after the border crossing, Luohu Commercial City, an emporium of counterfeit goods at bargain prices. On its six floors, you can purchase nearly anything: handbags, golf clubs, watches, couture dresses, even pharmaceuticals. But be sure to hit the ATM first...
...fact, there are success stories. Shanghai's Raffles City and the MIXc, a mall in the city of Shenzhen, which borders Hong Kong, have good locations and a profitable tenant mix, says Bryn Davies, executive director of retail services for CB Richard Ellis in Greater China. And, despite the glut of space, the mainland's retail sector remains in bull-market mode. Economists expect as the country's consumer culture continues to develop, demand will continue to increase. China today accounts for 5% of global consumption, but investment bank Credit Suisse predicts that number will rise...
Amid the relentless mania for making money that defines 21st century China, it's easy to forget that the country's stock markets in Shanghai and Shenzhen are less than two decades old. They may be barely out of adolescence, but they are already among the largest in the world. According to a forecast this month from PricewaterhouseCoopers (PWC), a global consulting firm, Chinese companies will raise $52 billion this year through initial public stock offerings in Shanghai and Shenzhen, more than double the amount forecast at the start of the year. Remarkably, this makes it likely China will generate...
...This rapid rise testifies to the buoyancy of China's equity markets. The relentless increase in stock prices in both Shanghai and Shenzhen-the former market has trebled in value in just the past 18 months-has triggered a stampede of Chinese companies eager to offer shares to a ravenous public. But is the IPO boom a historic milestone marking the permanent shift of China's financial center of gravity from Hong Kong to the mainland? Or is it a temporary aberration that, for investors, will come to a tragic and costly...
...investors-who have very limited access to markets abroad-makes sense. China's equity markets have a reputation for being poorly regulated casinos. Giving investors the opportunity to buy stakes in China's leading corporations under a more robust regulatory regime (starting this year, companies listed in Shanghai and Shenzhen must meet internationally accepted accounting standards) is a significant upgrade for the country's financial system, says...