As China’s dream of ‘aircraft-carrier-sized’ investment banks takes shape, it must not repeat US mistakes

//As China’s dream of ‘aircraft-carrier-sized’ investment banks takes shape, it must not repeat US mistakes

As China’s dream of ‘aircraft-carrier-sized’ investment banks takes shape, it must not repeat US mistakes

US President Donald Trump’s trade war has put China under heavy pressure to liberalise its financial industry. In concessions made during trade talks, China agreed to allow foreign banks to take up to a 100 per cent stake in Chinese securities firms from April 1. The policy shift opens China’s US$21 trillion capital markets to foreign investment banks and hedge funds. Since the new rule, there are now five securities firms controlled by Goldman Sachs, Morgan Stanley, Nomura, JPMorgan and UBS…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2020-08-05T13:15:16+00:00 August 5th, 2020|Business|Comments Off on As China’s dream of ‘aircraft-carrier-sized’ investment banks takes shape, it must not repeat US mistakes