US should not tar all China companies with the same brush after scandal
The latest scandal involving a Nasdaq-listed Chinese company, this time using fake gold as collateral, will add fresh ammunition to American politicians already hostile to China Inc. Kingold Jewelry, the Wuhan-based jeweller, was found to have used 83 tonnes of “gold bars”, which later turned out to be gilded copper, to secure 20 billion yuan (US$2.8 billion) in loans from multiple mainland financial institutions. The expose came less than three months after Luckin Coffee, once billed as the…
US should not tar all China companies with the same brush after scandal
The latest scandal involving a Nasdaq-listed Chinese company, this time using fake gold as collateral, will add fresh ammunition to American politicians already hostile to China Inc. Kingold Jewelry, the Wuhan-based jeweller, was found to have used 83 tonnes of “gold bars”, which later turned out to be gilded copper, to secure 20 billion yuan (US$2.8 billion) in loans from multiple mainland financial institutions. The expose came less than three months after Luckin Coffee, once billed as the…