And the award goes to...a Chinese financial IPO

Bank of China (Hong Kong)'s Hong Kong listing in 2002 opened the door for China Life Insurance and China Construction Bank to follow suit. The three lenders were awarded our Deal of the Year in 2002, 2003 and 2007.

Ten years ago, few people would have been prepared to bet that China's financial institutions would sail through the equity markets. The names of top banks were often associated with bad debts and scandals, and most lenders had little clue about how to spot dodgy borrowers.

Taking the firms to the public markets was an extremely onerous task. However, Beijing showed an iron commitment to bank reform and was prepared to wipe the slate clean of the banks' past...

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