Merrill Lynch bullish on investment banking fees in China

A snortingly bullish report from investment bank and brokerage Merrill Lynch suggests that China's stock markets, dwarfed by the country's banking sector and foreign stock markets, could be a major component of global investment banking profits in the next five to ten years. Given the dismal performance of China's A-shares, (Yuan-denominated and traded only on the mainland) recently touching six-year lows, the report is sure to raise some eyebrows.