Former Chinese Banker Joe Zhang has just published a new book, Party Man, Company Man: Is China’s State Capitalism Doomed?, which gives readers an insider view of China’s SOEs (State Owned Enterprises) and China’s state capitalism.
A vast majority of the state-owned companies either squander their advantages, or engage in destructive practices to stifle competition, they are in most cases overstaffed, inefficient, and corrupt. As a result their returns are poor on the whole.
~ Joe Zhang
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.