财新传媒
阳歌

TELECOMS: Giddy Unicom Picks 14 Mixed-Ownership Partners

阳歌 08月17日

财新传媒英文部编辑

Bottom line: Unicom's choice of 14 partners for a mixed-ownership reform plan involving its Shanghai-listed unit is far too many, and is ultimately likely to fail when those partners become frustrated and sell their shares.
Unicom puts 14 new partners into its mix
What I feared might happen has come to pass in a mixed-ownership reform plan being crafted by China Unicom (HKEx: 762; NYSE: CHU), one of the nation's three telcos that is experimenting with selling some of itself to private investors. That's a reference to reports in early August that the company mig......
阳歌

TELECOMS: Unicom Plan Gaining Too Many Partners

阳歌 08月03日

财新传媒英文部编辑

Bottom line: Unicom's mixed-ownership reform plan could prove a dud if it chooses too many partners, which looks likely based on the latest reports.
Unicom eyes too many cooks for pilot plan
I haven't written for a while about a highly anticipated plan to inject some new life into perennial laggard telco China Unicom (HKEx: 762; NYSE; CHU) through a Beijing-led pilot program, even as reports build that an announcement of the mixed-ownership plan are imminent. Those reports include the latest word that an announcement could finally come later this month.
But wh......
阳歌
Bottom line: A major altercation between a customer and deliveryman from STO Express underscores the intense competition in the sector, which puts huge pressure on couriers and companies in general.
STO delivers controversy
An incident making the rounds in Chinese media is highlighting just how brutally competitive the parcel delivery business has become -- literally. The incident is quite appalling but not really too surprising, with reports that courier STO Express  (Shenzhen: 002468) has fired a deliveryman who seriously beat a customer who filed a complaint about ......
阳歌

INTERNET: JD on the Rise, as Baidu and Weibo Stumble

阳歌 06月26日

财新传媒英文部编辑

Bottom line: JD.com is likely to pass Baidu this week and become China's third most valuable internet company, while Weibo's stock is likely to enter a period of correction while it awaits an official live broadcasting license.
JD on cusp of overtaking Baidu
The era of the Internet triumvirate of Baidu (Nasdaq: BIDU), Alibaba (NYSE: BABA) and Tencent (HKEx: 700), often called the BAT, is on the cusp of ending, as up-and-comer JD.com (Nasdaq: JD) looks set to pass Baidu in terms of market value. Meantime, I suspect the end of anoth......
阳歌
Bottom line: New anti-corruption moves at JD.com and Meituan-Dianping show the cleanup campaign is moving down to the grass-roots level, in a positive development that should help the companies as many seek to go abroad.
Meituan, JD.com in new anti-corruption snares
Anyone unfamiliar with China might find it peculiar and even worrisome that near simultaneous announcements appear to show problematic internal corruption at two of the nation's top Internet companies, e-commerce giant JD.com (Nasdaq: JD) and leading group buying site Meituan-Dianping. While the t......
阳歌

TELECOMS: VNO Movement Finally Gains Traction

阳歌 02月21日

财新传媒英文部编辑

Bottom line: China's VNO program appears to be gaining momentum heading into its third year, and could reach the 200 million subscriber mark by the end of 2017.
Virtual network operators gain momentum
It's been more than a year since I last wrote about China's fledgling attempt to breathe new life into its telecoms services sector by creating virtual network operators (VNO), mostly because the program seemed to be sputtering in its first couple of years. But new data from the telecoms regulator seems to suggest the industry may finally be finding its legs, and could......
阳歌

E-COMMERCE: Alibaba, JD.com Step Up Supermarket Drive

阳歌 02月17日

财新传媒英文部编辑

Bottom line: Alibaba could buy the RT-Mart supermarket chain this year to boost its grocery business, while JD.com's more online-focused effort and push into smaller cities looks like a better approach to the sector.
Alibaba grocer drives into Sun Art, JD goes to small cities
The online supermarket wars that began last year between e-commerce rivals Alibaba (NYSE: BABA) and JD.com (Nasdaq: JD) are heating up in the Year of the Rooster, though the pair seem to be taking slightly different tacks, at least based on the latest headlines. Leading those are re......
阳歌

E-COMMERCE: Wanda’s E-Commerce Foray Running on Empty?

阳歌 02月15日

财新传媒英文部编辑

Bottom line: Wanda will continue to operate its ffan e-commerce site for another year, following the departure of its CEO, but could quietly end the initiative afterwards due to lack of synergies with its brick-and-mortar shopping malls.
Success evades Wanda in e-commerce
The headlines have been buzzing this week about the departure of the chief executive of the e-commerce unit Wanda Group, the real estate-turned-entertainment giant with a voracious appetite for global acquisitions. The big theme from the chatter is that the departure of Li Jinling, the unit's third CE......
阳歌
Bottom line: Chinese smartphone brands with local production are most likely to survive upcoming price wars they are exporting to India, while Nokia's new smartphones are unlikely to make any inroads in China over the next 2-3 years. 
China exports smartphone price wars to India
A case of deja vu is rapidly shaping up in India, where Chinese smartphone makers have flocked over the last two years in search of growth outside their overheated home market. In this case media are reporting that Chinese brands have surged to take half of the Indian market by dumping millions......

精彩评论

陈酿老久 实朴

原文:还乡琐记:草木叩门 生活继续

吴春波H-R “乡田同井,出入相望,守望互助,疾病相持”,已成追忆。

原文:还乡琐记:草木叩门 生活继续

小胖子真不瘦 风口浪尖上的传奇人物!如果你就这样被打败,那你就真的太失败了,但是我相信你不是这种人,期待你东山再起的那天。

原文:回来吧,贾跃亭

lulud 创业英雄还是欺诈惯犯

原文:回来吧,贾跃亭

zhangmingxiao 川普执政一百多天,初见端倪

原文:商人治国成笑柄

孙越 史上有很多传奇,更有很多英雄,他们的死彰显生命的价值。

原文:对外侦察局的掏心猎手

zhangmingxiao 这个不是一起超售事件,是美联航因为内部员工需要乘坐飞机,旅客满员的情况下利用超售这个工具来达到赶下旅客的目的。

原文:美联航赶乘客下飞机 资深机长告诉你是否违规

郭杰群 在美国,地产开发商将出售资产所得在一定期限内进行类似房产的再投资可以享受一定的免税条款。这在我国当前还不具备,因此在一定程度上制约了地产商的能动性。

原文:REIT的海外发展及启示

Lypsey3543 “据个人了解,中国一线城市住宅投资收益率不会高于3,美国可以达到6。”作者这里说的应是租金收益率。首先,因(特大)人口增长加速,在新兴市场投资房产,主要看资本利得,动态租金收益要会延后实现,静态比较同期没有太大意义。其次,物业年均持有成本,纽约和中国一线城市不可比。第三,纽约和曼哈顿是两个概念。离开曼岛,租金中位数值完全是不是一个档次。而中国一线城市的租金上涨范围更大。因为仍处于成长期。总体而言,虽然在中美两国都投资的是房产,但从收益分布特征和波动率来说,完全可以看作是差别极大的两类资产。就如同高等级债券和蓝筹股票,横比收益没有意义,因为后者大幅超越。归根结底更可能是风险偏好异质性(含Demographic factors)和经济周期所处阶段决定了投资者更偏爱哪一类。

原文:2017年美国房地产市场展望——美国市场、中国视角

王争春 价格和土地供给的问题,我们慢慢谈。市场有垄断市场、寡头市场和竞争市场,定价规则自然有差异。

原文:面对房价,教科书自焚吗?经济规律笑了

财新微信