INVESTMENT BANKING: Chinese banks set for global advance
The nation's top investment banks are striving to compete with international rivals on a world scale. CICC's involvement this year on China's largest overseas investment should have sent shivers down the spines of American bankers. While they still lack the capabilities and technical know-how of their peers, it would be unwise to write off such well-capitalised players. Naomi Rovnick reports.
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