Chinese investment banks have begun losing ground to western rivals in vital battlefields such as helping local corporates raise debt abroad, reversing a Chinese advance that unnerved some US and European rivals.
Data from Dealogic show that Chinese institutions’ share of Asia-Pacific investment banking fees fell from a record high of 43.8 per cent in 2016 to 39.3 per cent for the first three quarters of 2017.
The fall follows three years of breakneck growth that began in 2013, when Chinese banks were earning just 16.5 per cent share of the Asia-Pacific region’s fees for raising debt, equity and advising on mergers and acquisitions.
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