Chinese whispers
Hong Kong scramble
HONG KONG’S FORTUNES have always been built on the foundations of China. These days, though, Beijing’s orbital pull is greater than ever. The territory’s stock market is increasingly dominated by mainland China listings and the fortunes of its financial community are joined to the hip of China’s continued economic prosperity.
That is especially so in the case of China’s banking industry. It’s successful financial restructuring and world-beating IPOs were executed by Hong Kong’s well-heeled investment banking community from the gleaming tower blocks of Central. Well rewarded for their efforts, Hong Kong’s investment bankers are now beginning to savour the prospects of the next China banking bonanza: an M&A wave as China’s big banks deploy vast sums of capital to compete globally.
So runs the script from...
