Year: 2007

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China Stocks

Ajisen Ramen and E-House IPO

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Last Updated on March 19, 2007 by stlplace

I mentioned the Ajisen Ramen 味千拉面 a while ago, see this post. Today from what I read from China-CBN, they are going to do IPO in Hongkong, the symbol will be 0538.HK. Like the Huiyuan Juice, I think this will be a hot one. Please be aware I am not endorsing Japanese noodles here. As matter of fact, I found a better place than Ajisen Ramen near my work place, that’s a Chinese one.

Separately, I heard this rumor from Pacific Epoch that E-House is going IPO in NYSE this year. E-House is a real estate broker in China. Don’t confuse it with Jinfeng Investments (600606.SS), which has provided similar service in the past and has the 金丰易居 brand. Note the founder of E-House has worked for Jinfeng.

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China

New Shanghai Library

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Last Updated on March 19, 2007 by stlplace

I visited the new Shanghai library the first time. Not sure whether the library was built before or after I left Shanghai in 1997, the old libaray was located near Nanjing Road, and People’s Square. Anyway, I was amazed by the number of knowledge hungry people in the library.

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China

Shanghai Real Estate Spring Expo

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Last Updated on March 18, 2007 by stlplace

I went to the Shanghai Real Estate Spring Expo, at Shanghai Expo Center on Yan’an Road. Again it has been more than 10 years since I visited Shanghai Expo Center last time. The expo itself is very crowded, and some developers offer free bus ride to and from the Expo Center to demo unit. I feel some people have to buy the house because in Chinese tradition, one has to buy the house if he is getting married.

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China Stocks

Bought Some Shares in Shanghai

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Last Updated on March 16, 2007 by stlplace

Finanlly I bought some A Shares in Shanghai Stock Exchange this afternoon. This is more than 10 years after my last purchase 🙂

I realized Chinese domestic stock market is still not widely open to foreign investors. There is a thing called QFII, stands for qualified foreign instiutional investors. Here is a good explaination for QFII from Havest Fund. I believe Morgan Stanley and others have QFII funds. There are also many mutual funds investing in Hongkong and asia pacific. You can ask them if you are interested. As an alternative, investors can look at Chinese ADRs traded in NYSE, Nasdaq, and H Shares in Hongkong Stock Exchanges. Personally I don’t think domestic market is mature enough for average joe in the UK, US, etc.  

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China

Starbucks to Give Away Free Coffee

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Last Updated on March 18, 2007 by stlplace

Dripped coffee only, available 10 AM to noon Friday March 16 in participating stores in China, as I understand from this Yahoo news people in US already enjoyed it on March 15. Actually I heard it from my coworker first. Please don’t pass on to the people work in Cloud 9, as I don’t like wait in long line 🙂

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China

BOA Card RMB withdrawl at CCB

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Last Updated on March 15, 2007 by stlplace

I mentioned it once in my blog: getting Ren Ming Bi (Chinese Yuan) at China Construction Bank using Bank of America ATM card. I tried it yesterday. It works great. The rate is 7.72, or $194.29 for CNY 1500. Don’t know if there is a transaction fee. The last I heard is there is none. There maybe some limit on how much one can withdraw each day.

BOA and CCB are partners in China. Talking about partners, many foreign banks are partnering with local banks these days, because the China banking industry will open up to foreign banks according to WTO.

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China Stocks

Opening Account Round Two

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Last Updated on March 14, 2007 by stlplace

I went to ChinaClear, the Chinese securities clearing house. I don’t know what’s the equivalent in the States? I do believe they have something similar but it’s just behind the scenes. In other words, we don’t need to know all the details.

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China Stocks

Opened Stock Account in Shanghai

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Last Updated on March 15, 2007 by stlplace

I thought about this for quite a while, debating whether I should joined the party in Shanghai. Finanlly I decided to pull the trigger. I went to China Merchant Bank (招商银行), and opened my stock trading account there (the securities department of CMB). The procedure is very much like that in US. I filled out a bunch of forms, including the acknowledgment of risk, showed my IDs, paid 90 Yuan for the card. I am still waiting for the final approval before I can buy stocks.

(Update 14Mar 4PM Shanghai time) I heard from my broker that I already have securities account (I bought and sold stocks in Shanghai in 1995/97). Because I could not find the old account No. I need to go to 中登公司 to get it straight.

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China Stocks

Xinhua Finance Media IPO Fiasco

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Last Updated on March 15, 2007 by stlplace

Xinhua Finance Media Limited (XFML) did not turn out to be another Home Inns or New Oriental, at its IPO debut last Friday. Besides the difference of market sentiment then and now, I think the fundamental reason lies within the company and the business itself.

First Xinhua Finance is in the media and advertising business. Note media industry is still heavily regulated in China, this is different from Home Inns’ economy hotel business, which is pretty much a free market (as long as they can secure the building).

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China

Shanghai Realtors

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Last Updated on March 12, 2007 by stlplace

These days we can see many realtors along the Shanghai streets. The business must be good at least on rental side. I see more than 6 brokers on this 100 meters long Chang Ning Road, some even with US name (Coldwell Banker).

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