‘Hi, It’s China. We Understand You’re Terrified.’
Following a characteristically silly domestic media blitz aimed at calming frayed investor nerves, Beijing dialed up the banks on Wednesday evening. According to the ubiquitous people familiar with the matter who spoke to Bloomberg, Fang Xinghai, Vice Chairman of the China Securities Regulatory Commission, convened a call with "major investment banks" to help assuage worries around the EdTech crackdown, which some fear may presage additional "anti-capital" measures. Restrictions on the privat
4 thoughts on “‘Hi, It’s China. We Understand You’re Terrified.’”
Gimme back piracy! (“capitalism as God intended”)
What do you mean, “give me back piracy.” That’s already happened. We’re calling it “inflation” this time around. When you have companies openly saying they’re raising prices and will do it some more until people cry “uncle.”
So kill an industry and bail out the investors not by bailing them out but by buying up all the stock… so it’s just eminent domain for markets? “I’m sorry but we’ll be nationalizing the auto industry, here’s all your money back capitalist investors.” I mean I guess it makes sense just like European countries that freed their slave populations by buying them from the owners.
Chinese govt is blinking. Wait, US IPOs are okay. No, VIEs are ok. You misunderstood us on education companies. We’ll give them all the time they need to adapt. I suppose the property developers will be getting the next olive branch.