The Best Reads of the Week From Caixin

Dear reader:

In 2016, Asia had more billionaires than the U.S. for the first time ever, according to a recent report. More than 60% of ultrawealthy Asians are Chinese nationals. On average, the Chinese mainland minted two billionaires every other week last year, making it the world’s most fertile cradle for wealthy individuals.

The Chinese government has returned to the dollar bond market after a 13-year hiatus. But Beijing stressed that it has no plan to regularly tap the international bond market.

Smart-beta investing in China appears to be picking up. Two exchange-traded funds derived from smart beta indices developed by Caixin Rayliant, a sister company of Caixin Global, outperformed the market on their Hong Kong debut.

Some of the newly listed China-concept stocks in New York took a nosedive, though for different reasons. Online microlender Qudian underwent the biggest roller coaster ride, while social networking giant Weibo dropped as positive sentiment waned.

Here is another sign of maturation and consolidation of the bike-sharing market: Youon Bike has agreed to combine with Hello Bike in the industry’s first merger.

These are five stories that I don’t want you to miss. Please share your comments on The Weekender section and on our other coverage at news@caixin.com.

Kind regards,

Deb Price

Managing editor, Caixin Global

Asian Rich List Swells on Billionaire Boom in China

Report cites geographic shift in wealth generation with mainland adding 101 new billionaires last year

About 69% of China's billionaire-linked businesses are publicly listed companies, including Alibaba Group Holdings Ltd., founded by Jack Ma (above), whom Forbes magazine said in May is the Chinese mainland's richest man. Photo: Visual China

China Says First Dollar Bond Sets No Precedent

Sale will also help other Chinese firms price their debts in international market

Although China is selling dollar bonds for the first time in 13 years, the country is not planning to be a regular issuer in the non-yuan bond markets. Photo: Visual China

Smart Beta Investing: Choosing Between Active and Passive Strategies

Two exchange-traded funds based on smart beta indexes developed by Caixin Rayliant will debut Tuesday in Hong Kong

On the Chinese mainland stock market, there are eight products with smart beta elements. These products manage between 4 billion yuan ($603.74 million) and 6 billion yuan in assets, accounting for just 0.15% of all exchange-traded funds (ETFs) in the market. Photo: Visual China

Newly Listed China-Concept Stocks Dive in New York

Shares of newcomers Qudian, Rise Education and Secoo fall more than 7%, while Weibo drops by nearly as much on profit-taking

Weibo Corp.’s shares fell 5.7% on Wednesday in New York, joining recently listed Chinese high-flyers like online microlender Qudian Inc. and luxury e-commerce site Secoo Holding Ltd. in taking major losses as U.S. investors soured on China stocks. Photo: IC

China Sees First Shared-Bike Merger

Youon unit agrees to purchase Hello Bike for undisclosed sum as volatile industry develops

The merger of Youon Bike's bike-sharing unit and the Hello Bike company, the No. 3 player in the industry, will present new competition for Beijing Mobike Technology Co. Ltd. and Ofo Inc. Photo: Visual China