China outshines regional peers for investment banking fees amid slumping markets, economic downturn

Name: ‘We need to look past uncertainty’, says Hong Kong Monetary Authority chief ahead of banking summit
Uploaded: 2022-10-11T00:30:18.000Z
Duration: 9 min 38 s
Description: ‘We need to look past uncertainty’, says Hong Kong Monetary Authority chief ahead of banking summit

Investment bankers raked in US$15.44 billion of fees from China, down 9 per cent from the same period of 2021, according to Refinitiv

That was still better than an overall 11 per cent decline in banking fees in Asia-Pacific excluding Japan

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Investment bankers raked in US$15.44 billion of fees from the world’s second-largest economy, down 9 per cent from the same period of 2021. Photo: EPA-EFE

Eric Ng

Published: 8:30am, 11 Oct 2022

China has outperformed most regional peers when it comes to deal-making by investment banks in the first nine months of a year beset by moribund financial markets and a downturn in the global economy.

Investment bankers raked in US$15.44 billion of fees from the world’s second-largest economy, down 9 per cent from the same period of 2021, according to a tally by financial data provider Refinitiv.

That compares with an overall 11 per cent decline in Asia-Pacific excluding Japan. China accounted for 69 per cent of the region’s US$22.4 billion in total banking fees earned.

“Citic [Securities] took the top position for overall investment banking fees in [the region], with a total of US$1.4 billion, or 5.5 per cent of the wallet share of the total fee pool,” Refinitiv said in a report on Monday.

The Shenzhen-based investment bank led the region’s underwriting volume when it came to new shares issuances. Transactions it arranged totalled US$23.4 billion in the nine months, giving it an 11 per cent regional market share.

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‘We need to look past uncertainty’, says Hong Kong Monetary Authority chief ahead of banking summit

The MSCI Asia-excluding Japan stock index tumbled 27.6 per cent between January and the end of September.