our-china-jv-will-be-competitive-says-credit-suisse

Our China JV will be competitive, says Credit Suisse

Credit Suisse's Zhang Liping says the firm's recently approved JV with Founder Securities already has a pipeline of mandates in hand, but predicts a challenging year for all players in the domestic Chinese market.
Just before the end of 2008, the securities joint venture set up by Credit Suisse and Founder Securities received a long-awaited and coveted business permit that will enable it to start offering investment banking services in the domestic Chinese market. Credit Suisse Founder Securities, which is one-third owned by Credit Suisse and two-thirds by its Chinese partner, is the first Sino-foreign entity to secure all the necessary approvals to underwrite domestic Chinese equity and bond offerings since a moratorium on sino-foreign securities JVs was lifted in May 2007. Through the JV, Credit Suisse will now be able to compete head on with Goldman Sachs and UBS, which have operated in the domestic Chinese...
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