The US investment giant exceeded its $10bn target after an active 24 months of deals in the region, especially in India and Japan.

The construction and infrastructure disputes specialist succeeds Terence Tung; Tung remains a partner at the Hong Kong law firm.

The US pharmaceutical giant will pay $650m upfront to support 12 cancer medicine programmes with HKEX-listed Innovent; the collaboration includes co-commercialisation rights in the US and Europe.

Hong Kong's finance secretary Paul Chan said the deal will "attract more cross-boundary Rmb financing and trading activities to Hong Kong".

Andrew Yates, KPMG Australia's CEO, and Julian McPherson, national managing partner audit and assurance, have resigned after an investigation into a whistleblower's allegations over data use was not conducted with "necessary rigour". Principia Advisory is conducting a culture review.

The long-standing executives joined Baring Private Equity Asia, now known as EQT Private Capital Asia, nearly two decades ago, and have helped build the firm's Asia private capital platform.

There were several multi-billion dollar deals agreed between the two nations at the Beijing summit, however, while the establishment of boards of trade and investment could help, some are sceptical, with Chinese FDI into the US at historically low levels.

Jardines wants to grow the diagnostic imaging and teleradiology firm in its home markets of Australia and New Zealand and to expand internationally.

Three brokers, including Hong Kong’s largest online brokerage Futu, have been heavily penalised by Chinese regulators, in an effort to clean up market misconduct and to curb illegal outflows.

The China-focused corporate lawyer has joined to bolster A&G’s cross-border M&A and private equity capabilities across China and Southeast Asia.