The China team at UBS Warburg discuss China's potential next year

UBS Warburg China heads He Di, vice chairman, and David Chin, executive director in corporate finance discuss prospects for the China market next year.

FinanceAsia What are the prospects for the China investment banking market next year

David Chin We believe the market will be around $15-20 billion next year, although these will be off the back of relatively small number of very large transactions - Bank of China, China Telecom southern. The northern part will come later, possibly in 2003. On the secondary side, China Unicom will do both A-shares and overseas issues. China Mobile is considering doing China Depositary Receipts in China, and the Chinese oil companies will probably be financing their operations through the A-share markets.

He Di China Merchants Bank and Citic Securities will also probably access the equity market locally. And next year,...

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