Considering that a long list of blue-chip Western investment banks is scrambling to access ChinaÆs booming securities industry, and that the market has been exceptionally buoyant over the past year, the timing of the deal raises many questions.
Indeed, the Chinese domestic stockmarket is far more lucrative than it was in 2003, the year in which the JV was founded.
For example, IPOs were resumed last year, after being suspended for several years to avoid dampening prices through excess supply. In addition, trading...
¬ Haymarket Media Limited. All rights reserved.
