According to the self-reported volumes, today huobi.com reported a volume of 186,000 bitcoins traded – close to 1 billion RMB. #2 worldwide was OKCoin with about 46,000. While impossible to verify, given the actual market liquidity and rapid movement, there … Continue reading
Chinese financial markets don’t typically get a lot of press in the English-speaking world, with the occasional exception of some finger wagging about the lack of proper government controls over what goes on, or the occasional reference to a “shadow … Continue reading
Whereas prior to approximately 2000 registration was linked to mere occupancy rights, now it is linked to ownership. Without ownership, no registration. And without registration, you don’t get the various prized state goodies on offer. In particular, your children don’t enjoy the right to attend the local public schools. Continue reading
It is hardly a secret that division of labor and specialization are important keys to economic efficiency. The Chinese restaurant industry must surely count as a world leader in this regard. These days the vast majority of restaurants outsource a substantial portion of their dishwashing to third party companies. Continue reading
Is it possible for a market maker with very ample resources to convince the public to buy and hold something which has no intrinsic and only very limited transactional value? Yes – but it takes some skill… and is hard to sustain. Continue reading
Bank in Chinese is 银行 – literally “silver merchant”. Alas, like so most countries around the world, China has not had a real “silver merchant” for half a century. With their paper gold accounts, Hong Kong’s banks have arguably come close. But no silver.
That has now changed. Continue reading