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Tien Dan, president of Changjiang Securities, and BNP Paribas Peregrine’s Dry shake on it |
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Behind the scenes of China’s quickly developing financial system a lot of frantic negotiations are taking place about the entry of foreign investment banks into the domestic market. Joint ventures are the likely vehicle. Though few involved are comfortable admitting it, international banks and Chinese securities houses are eyeing each other up, wondering who to hold hands with.
“It’s like a terrible school disco,” says one banker.
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