China joint-ventures still not enough for foreign banks

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China joint-ventures still not enough for foreign banks

August 20, 2009 (Last updated: August 21, 2009)

From Aaron Pan

Tie-ups in China have been in vogue this week with CLSA and Macquarie both announcing separate deals, while HSBC was also reported to be in talks with Industrial Securities. But unless China opens up its financial services industry, foreign banks still won’t be able to make the serious money they dream of.

China joint-ventures have been all the rage this week.

Firstly CLSA signed an agreement with Shanghai Guosheng to set up a joint-venture asset management company, while two days later Macquarie announced it was joining forces with China Everbright to create...

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SOUTHEAST ASIA DCM

Rank

Bookrunner Parents

Deal Value $ (Proceeds) (m)

No.

%share

2012 YTD Rank

Standard Chartered Bank

3,991

8.9

HSBC

3,710

8.3

Goldman Sachs

3,333

7.4

Deutsche Bank

2,895

6.4

Citi

2,774

6.2

JPMorgan

2,288

5.1

DBS

2,106

4.7

Siam Commercial Bank

1,835

4.1

Barclays

1,586

3.5

CIMB Group

1,523

3.4

Subtotal

26,040

123

57.9

Total

44,958

212

100.0

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