Joe Zhang, Chairman of Guangzhou Wansui Micro Credit Company, and the author of “Inside China’s Shadow Banking: The Next Subprime Crisis?”, wrote an article in the Economist on reasons to be bullish on Chinese banks…
“Ultimately, Chinese banks are very liquid today. As long as the economy is still growing, albeit at a much slower pace, the banks will continue to make more loans, and most loans will still bring back interest as well as principal, enabling the banks to keep lending. Savers will continue to put money in the banks. Time is a wonderful doctor and, in a few years, the Chinese banks will have enough retained earnings to replenish their equity base. In the meantime, neither the government nor the equity investors have to do anything but just sit back and relax.”
Joe Zhang is the Chairman of Slow Bull Capital based in Hong Kong, and also author of “Inside China’s Shadow Banking: The Next Subprime Crisis” and 避開股市的地雷。Zhang was Chairman of Wansui Micro Credit Company in Guangzhou, China, from 2011 to 2012, . He was named “Microcredit Person of the Year” in January 2012 by the Microcredit Association of China.
He started Slow Bull Capital in 2012. Before starting his own business, Zhang worked at investment banks. He was Deputy Head of China Investment Banking at UBS between 2008-11. From 1999 to 2006, Joe was co-head and head of China Research at UBS Securities Asia Limited. Prior to this, Mr. Zhang worked at the People’s Bank of China between 1986 and 1989. Zhang was chief operating officer of Shenzhen Investment (604 HK), a company listed on the Hong Kong Stock Exchange, between 2006-08.
Zhang is a frequent speaker at investor conferences. He also writes extensively about China economy, and banking. His work has appeared in The Wall Street Journal, Financial Times, International Herald Tribune, and The New York Times.