Ken Wang covers China's ECM and the equity-linked market for IFR. Before joining Thomson Reuters IFR in January 2011, he worked as a stock editor for China Finance Online.
JP Morgan’s move to exit its Chinese securities joint venture has again shone the spotlight on the hurdles facing global banks in the mainland capital markets.
JP Morgan is discussing the sale of its stake in its Chinese securities joint venture, in a move that will clear the way for the US bank to seek a controlling stake in a new JV in the near future.
Chinese brokerages are looking to add a further US$21bn of equity capital, accelerating a fundraising spree that has already reached US$9.9bn so far this year.