CLSA announced this week that it has applied to the CSRC China Securities Regulatory Commission to establish a joint venture securites company with China's Xiangcai Securities. The new company will be known as China Euro Capital and represents the first time a European investment bank has joined forces with a Chinese firm to offer a full range of banking services on the Mainland, including public offerings, underwriting and advisory work.
Our proposed joint venture with Xiangcai is ideally placed to capitalize on China's accession to the World Trade Organization, says CLSA Chief Executive Rodney Smyth, who adds that China's markets are entering a phase where State Owned Enterprise consolidation and private sector...
