Wang’s big ambitions

Wang Qishan is president of People's Construction Bank of China and chairman of cicc, its investment-banking joint venture with Morgan Stanley. His banking group is the third biggest in China by assets and employs half a million people. He was formerly a deputy governor of the People's Bank of China and is very highly regarded by China's economic chief, deputy premier Zhu Rongji - so much so that he's shortlisted to be the next central bank governor. He spoke frankly to Steven Irvine about Morgan Stanley, the joint venture and investment banking.

Winning the China game

The mainlander is the key

Be bold, but not too bold

The local contenders

Over the next 10 years do you see China developing the way Japan did, with big domestic securities firms dominating and very little foreign participation, or will foreign investment banks have a more active role?

Currently, the entities involved in investment banking in China are mostly foreign. In the listing of Chinese enterprises in overseas capital markets, foreign investment banks have gained more than 90% of market share.

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