As foreign banks circle, China plots an “aircraft-carrier” defence

its first domestically built aircraft-carrier into service last December, the culmination of three decades of work. The government hopes for a faster return on efforts to create what it calls an “aircraft-carrier-class securities firm”—ie, an investment bank powerful enough to prevail amid intensifying competition in the country’s capital markets. It is poised to draft its biggest financial force into battle, by allowing giant state-owned commercial banks to enter investment banking.

Even without the foreign threat, China has been eager to whip its brokers into shape. Officials want capital markets to lessen the burden on banks, which last year provided two-thirds of all new credit. The ten biggest Chinese banks have roughly 30 times more assets than the ten biggest securities firms, and are also far more profitable . The securities industry’s main problem is extreme fragmentation; 131 registered firms providing similar services fight for clients by slashing fees.

Still, the securities industry could look very different in time. The government wants to see consolidation. Granting banks brokerage licences may squeeze out the also-rans. Consider, for example, medium-term notes, a quasi-bond market in which commercial banks can already participate: of the top 20 underwriters by income, 17 are banks and just three are brokers.

預設的傾向性引導 恰恰說明它會 它是中共的爪牙

🚫 People should avoid investing in China because the CCP lacks transparency and suddenly seized people’s property. A lot of people shouted in the bank of ICBC, demanding the return of deposits. SpokespersonCHN MFA_China SpokespersonHZM PRCAmbNepal

You are China's propaganda machine.(dog face)

CHINA, the biggest criminal of the world on ANY scale must be brought to justice by the rest of the world. IT IS YOUR DUTY TO MANKIND. nytimes washingtonpost WSJ BBCWorld AlJazeera TOIIndiaNews tassagency_en The_Japan_News JapanToday ABC

This seems scary to me? Or am I missing something? China wants to fuel a bubble and cause a global financial crisis now too?

🤣🤣🤣

what is happening in china?

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