Be bold, but not too bold

Winning the China game

Winning the China game

The mainlander is the key

The local contenders

Wang’s big ambitions

Morgan Stanley’s strategy in China is a subject of perennial interest to its rivals. Harvard Business School might even consider it as a case study for its MBA course.

The conservative American investment bank has easily the boldest strategy in China. Its 35%-owned joint venture with China Construction Bank, the China International Capital Corporation (CICC), is entering its second year of operation and has about 80 staff in Beijing, around 10% of whom are expatriates.

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