IFR Asia – May 05, 2018

People

&Markets

UBS first to raise China stake

Swiss bank applies for 51% after China confirms new rules

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KEN WANG, STEVE GARTON

TOP STORY PEOPLE AND MARKETS

NET PROFIT/LOSS OF JV BROKERAGES PART OWNED BY FOREIGN BANKS IN 2017

Goldman Sachs Gao Hua Securities 66.

UBS Securities 40.

Credit Suisse Founder Securities 26.

Zhong De Securities 118.

Morgan Stanley Huaxin Securities -69.

Citi Orient Securities 188.

Total 370.

Currency: Renminbi (million)

Sources: Securities Association of China

“The further opening up

of China’s financial sector

represents great opportunities

for our China businesses,

including investment banking,

wealth management and asset

management.”