Behind China’s 2020 Economic Numbers
◎ A closer look at official data reveals a wobbly economy on the verge of crisis, and not solid “recovery” or healthy “growth.”
BUSINESS

What Happened to Ant Group’s World-Record IPO?
◎ Ma’s speech is unlikely the driving reason behind Beijing pulling the plug on Ant.

Risk Watch: Wuhan Epidemic Paralyzes China’s Economy, Threatening Global Impact
◎ A wave of economic shocks is coming to countries with significant China trade as the novel coronavirus epidemic halts production, travel, and supply chains.

Risk Watch: The CCP’s Strategic Intentions Behind the Hong Kong Exchange’s Bid for the London Exchange
◎ We have reason to suspect that the CCP has strategic intentions behind the HKEX move for the LSE.

Risk Watch: China Economic Rebound? Major Shareholders Vote with Their Feet
◎China will find it hard to sustain the economic “recovery” in April. ◎Risks of a stock market crash are greater than before.

Risk Watch: China Broadens Issuance of Local Government Bonds to Defer Crisis
◎ The CCP is putting its political credit on the line by making local bonds available over the counter.

Risk Watch: The Chinese Stock Market Plunge and Factional Politics
◎ The timing of the plunge and other odd developments suggest that CCP factional politics could be a factor influencing the recent sell-offs.

Risk Watch: Chinese Online Property ‘Unicorn’ Aiwujiwu Shuts Down
◎ The collapse of Aiwujiwu and pinganfang.com suggests that the business model of “property + financing + internet services” is failing in China.

Risk Watch: Campaign to Curb P2Ps Heightens Political Risk for the CCP
◎ The CCP’s P2P campaign will increase risks for China’s financial system.

Risk Watch: Crashing China Property Stocks in Hong Kong Forebode Bubble Crisis
◎ Mainland property developers will likely face severe financing problems in 2019.