Why Shenwan Hongyuan welcomes foreign banks to China
Securities firm sees opportunities to work together, but says it has the edge with local clients
The world’s biggest investment banks have been busy building up their securities joint ventures in China over the past several years. But Jian Liu, who was appointed chairman of local securities giant Shenwan Hongyuan Securities in August, is not losing any sleep about the stiffer competition his firm could be facing.
Shenwan Hongyuan is the fifth largest of the more than 100 Chinese securities houses on the mainland, with nearly CNY500 billion ($71.6 billion) in assets. It provides an array of
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