Shenzhen-HK Connect Arrives as Insurers are Pilloried for Investment
1 December, 2016
Alternative Review of the Year. Pyrrhic Victory of the Year: Goldman Sachs vs Libyan Investment Authority
20 December, 2016Euromoney, December 2016
It is no secret that China is the biggest game in town in Asia-Pacific investment banking. But it is striking, even alarming, to learn just how utterly dominant it has become.
Across the board, China accounts for a larger proportion of both volumes and fees today than it has at any point in the previous six years. In the year to December 5, China is 85.7% of the ex-Japan Asia debt capital markets wallet, 82.1% of ECM and 52% of M&A, for an investment banking total of 76.6%.
The rise has been steady. In ECM, China was 50.2% of the pie for the same period in 2010 and has risen steadily every year since. In DCM, the number has moved around a bit more but has never been higher than today. In M&A, China was only 35% of the market as recently as 2014.
While the numbers might be surprising, the trend is not news, so with Dealogic’s help we decided to look a little deeper and see if the fee totals were being matched by volumes. This tells us some interesting things.
Full article: http://www.euromoney.com/Article/3648808/Year-in-data-2016-Chinas-dominance-of-investment-banking-reaches-troubling-levels
