A man carrying a kite in the shape of the Chinese national flag walks along the Bund as the sun rises behind the buildings of Pudong’s Lujiazui financial district in Shanghai in October 2015. China is seeking to build heavyweight investment banks to take on foreign players. Photographer: Bloomberg
Opinion
Opinion
Macroscope
As China’s dream of ‘aircraft-carrier-sized’ investment banks takes shape, it must not repeat US mistakes
- China is allowing foreign banks to control securities firms, but also seeking to create national champions by allowing its biggest commercial banks to offer investment banking services
- To avoid a repeat of the US’ experience of financial crises, Chinese regulators must be on guard against banking excesses
A man carrying a kite in the shape of the Chinese national flag walks along the Bund as the sun rises behind the buildings of Pudong’s Lujiazui financial district in Shanghai in October 2015. China is seeking to build heavyweight investment banks to take on foreign players. Photographer: Bloomberg