Hong Kong and Mainland China to Partly Open Markets for Investment Funds

How will you celebrate the 18th Anniversary of the Handover / Return of Hong Kong to Chinese Sovereignty? This July 1, 2015, China will launch the “mutual fund recognition framework” which will allow international assets managers to sell their Hong Kong registered fund products to Mainland investors. How’s that for a celebratory mouthful of globalization?

ideal subject positions (by the numbers)

The current stock market frenzy has people dreaming about more than free lunches. The following adverts are from Money Daddy (钱爸爸), an online trading / investment platform based in Shenzhen. Of note? In addition to the pyramid scheme promises of rapid wealth, the site address plays with both “rich daddy, poor daddy” ideology and Cantonese numerology, where the number 8 is a homophone for the character for father and can also represents the character for “get rich”.

Translations of Money Daddy advertisements show “ideal” middle class Shenzheners enjoying their high returns. The underlying anxiety point is actually quite simple: if you’re earning an honest living in any of these jobs (including an ordinary bureaucrat), you’re not earning enough for carefree spending. And carefree spending is, of course, the site where the self is being constructed as “macho”, “successful”, “loving”, “sexy”, and “independent”, respectively. Continue reading