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Bohao Zhao
These include JPMorgan Chase & Co., UBS, HSBC, Credit Suisse, Deutsche Bank, Morgan Stanley, and Goldman Sachs Group. The majority of them had lower profitability or even a loss in their Chinese investment banking divisions last year.
The Financial Times notes that the PRC's capital markets are cooling as a result of the country's economy contracting, the real estate market continuing to decline, and growing geopolitical tensions between China and the United States.
Han Lin, China director of consulting firm The Asia Group told the newspaper that "Western investment banks are caught in a vicious circle. Less investment in mainland businesses results from weak deal flow, which in turn limits additional deal flow."
He added that several financial institutions are "losing patience given that opportunities in India, Southeast Asia and the US look more promising."
source: ft.com
The Financial Times notes that the PRC's capital markets are cooling as a result of the country's economy contracting, the real estate market continuing to decline, and growing geopolitical tensions between China and the United States.
Han Lin, China director of consulting firm The Asia Group told the newspaper that "Western investment banks are caught in a vicious circle. Less investment in mainland businesses results from weak deal flow, which in turn limits additional deal flow."
He added that several financial institutions are "losing patience given that opportunities in India, Southeast Asia and the US look more promising."
source: ft.com
