CLSA to set up China investment banking JV

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.