14 November 2019

Ronald Wan

Senior investment banker
  • Trade imbalances between the United States and China will persist for a long time. Photo: Reuters

    US-China trade war to fuel reforms, new alliances

    - Jul 10, 2018 11:56am
    US-China trade war officially kicked off on July 6, but several hours later, the Office of the US Trade Representative announced guidelines on how to secure exemptions from the tariffs. Companies have a period of 90...
  • Structural deleveraging has weighed on the growth of China’s housing and infrastructure investment. Photo: Reuters

    Deleveraging, trade tensions China’s two main challenges

    - Jun 26, 2018 10:13am
    Chinese President Xi Jinping wrote in an article that China must try to overcome Thucydides Trap and the middle-income trap. The first one means China should handle its relationship well with major powers like the US....
  • China’s Purchasing Managers Index hit 54.1 in May, the highest since December last year. Photo: China Daily

    Will trade row push China back to pursue credit-driven growth?

    - Jun 5, 2018 9:59am
    China and the United States are experiencing a bumpy ride in their trade relations at the moment. Against this backdrop, will China relax its fiscal and monetary policies to stabilize economic growth? Beijing has already started to...
  • Types of properties, the level of concentration and the debt level are some of the key factors determining the return profile of a Real Estate Investment Trust.  Photo: Reuters

    REITs vary a lot in terms of underlying assets

    - May 29, 2018 12:02pm
    Amid market uncertainties, some investors tend to be more interested in investment tools that offer a combination of high yield and low risk. In this regard, Real Estate Investment Trusts (REITs) are often said to be...
  • As part of Xiong’an green development initiative, ecological restoration work will be carried out in Baiyangdian wetland.  Photo: China Daily/VCG

    China to test new development model in Xiong’an

    - May 2, 2018 10:21am
    The China-US trade row is still evolving, casting a shadow over foreign trade and the manufacturing sector of Asia’s largest economy. To balance the country’s economic growth structure, investment and domestic consumption will play a critical...
  • Thanks to a cross-border stock link program, mainland investors have begun to embrace concepts such as value investment and fundamental analysis widely adopted by global investors. Photo: Reuters

    Why the A-H share gap may narrow further

    - Apr 24, 2018 10:17am
    The AH premium index, a gauge of price gaps in dual-listed shares, has been falling rapidly recently after hitting a high of 138.96 points in the beginning of this year. The index tumbled to a low...
  • The return of overseas-listed Chinese internet giants through the Chinese Depositary Receipt route and the registration-based stock listing reform are going to bring profound changes to A-share market. Photo: Bloomberg

    The race to lure Chinese unicorns

    - Apr 10, 2018 10:12am
    Chinese new-economy “unicorns” have become hot items in the market this year. China’s top securities regulator has fast-tracked the listing of Foxconn Industrial Internet, a unit of the world’s biggest contract manufacturer, and WuXi AppTec, a...
  • China may enjoy a huge trade surplus with the US, but American companies and consumers, too, gain from the China trade. Photo: Reuters

    Why a China-US trade war will hurt both

    - Mar 27, 2018 1:14pm
    If China and the US fail to resolve their trade dispute, we could witness the ultimate battle between the world’s two largest economies. The hi-tech industry will be a focal point of any future trade war,...
  • Hong Kong saw a net inflow of over 340 billion yuan from the Stock Connect channel last year. Photo: China Daily

    HK equities: Near-term turbulence won’t alter long-term uptrend

    - Mar 6, 2018 11:33am
    It’s estimated that around US$83.8 billion of capital flowed into emerging markets last year. That has ended the net capital outflow from these markets in the previous four years. The Hong Kong market was one of...
  • Given China's efforts to boost consumption, retail theme will remain a strong play in the stock market. Photo:

    Chinese equities: Consumption plays likely to gain traction

    - Feb 27, 2018 10:37am
    As China seeks to transform its economy by reducing the reliance on investments and focusing more on boosting consumer spending, the consumption sector is likely to remain on a robust growth path. Last year, the contribution...
  • Favorable monetary policy and a robust economy will help support Chinese stock markets, according to some observers. Photo:

    Why China’s A-shares may regain footing soon

    - Feb 13, 2018 12:22pm
    Investor confidence has taken a knock following the sudden and huge selloff on global stock markets this month. Looking ahead, there is reason for caution, but that doesn’t mean that one should overlook several positive factors, including...
  • The strength of the yuan has been underpinned by China’s better than expected economic growth and tightening monetary policy. Photo: Reuters

    Yuan faces appreciation pressure

    - Feb 6, 2018 2:11pm
    Jerome Powell took office as the new Federal Reserve chairman on Monday. And a global currency war could be just around the corner. Since the beginning of the year, the US dollar index has basically entered...
  • MSCI's upcoming inclusion of A-shares in its key indexes is expected to have a deep impact on the investor mix, market structure, and investor mentality in China in the long run. Photo: CNSA

    Foreign investors begin piling into China A-shares on MSCI theme

    - Jan 8, 2018 5:50pm
    More foreign capital is set to flow into China’s A-shares as MSCI prepares to include the stocks in its emerging market index from June. The upcoming move will have profound impact on the investor mix, market...
  • Prevention of major risks is one of the key points to be tackled in the Central Economic Work Conference this week. Photo: Sina

    What to expect in the Central Economic Work Conference

    - Dec 19, 2017 9:06am
    The Hong Kong Stock Exchange has announced rules to lure new-economy companies to list on the bourse. The move is essential for the city to position itself as China’s largest capital-raising center for such firms. It...
  • The bitcoin frenzy has drawn comparisons to the tulip mania that gripped Europe in the 17th century. Photo: Reuters

    Will bitcoin become the fourth classic bubble in history?

    - Dec 12, 2017 9:59am
    Tulip Bubble, South Sea Bubble and Mississippi Bubble are three major economic bubbles in history, something that I learnt during my time as a student at the London School of Economics and Political Science. The current...
  • China's central bank is stepping up efforts to prevent risks in the financial system. Photo: Bloomberg

    China to place top priority on risk control

    - Dec 5, 2017 11:18am
    The People’s Bank of China recently unveiled some guidelines aimed at curbing financial risk in the asset management industry. The impact of the new rules will gradually be felt in the market. The nation’s asset management...
  • Chinese residents have strong demand for high-end products and daily essentials. Photo: Reuters

    Shanghai residents spend the most in China

    - Nov 21, 2017 10:14am
    How strong is consumption demand in China? It has been reported that a ticket to a private lingerie show in Shanghai fetched 350,000 yuan (US$52,732) in an online sale. That may be exceptional. On average, residents...
  • China has marked another milestone in the path to financial sector liberalization. Photo: Bloomberg

    China accelerates financial market liberalization

    - Nov 14, 2017 10:10am
    China has accelerated the opening up of its financial sector, announcing last Friday that it will ease limits on foreign ownership of banks and securities firms. It marks a big milestone, and sends a signal that authorities...
  • China will focus on developing advanced manufacturing, internet, big data, artificial intelligence and integrate new technologies into the real economy. Photo: Wikipedia

    19th Party Congress: What it means for the economy

    - Nov 7, 2017 12:58pm
    I have visited many mainland friends in senior financial or business positions in Beijing after the 19th Party Congress to discuss its implications. The once-in-five-years meeting typically sets the direction for future development. Interestingly, this time...
  • The National Development and Reform Commission has indicated that the oil and gas sectors will be included in the mixed-ownership reform. Photo: Reuters

    Mixed-ownership reform to become a key investment theme

    - Oct 24, 2017 9:52am
    All eyes at home and abroad were on the Chinese Communist Party (CCP) 19th Party Congress when it kicked off last week. Chinese President Xi Jinping presented achievements over past five years and also outlined a...