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Chinese banks with ties to Beijing have supplanted Wall Street to dominate deal making in Asia

4 weeks ago
Sky Canaves
ust two years ago, American and European banks topped the leaderboard, with the top five holding a 30 percent share of investment banking revenues. Today, five Chinese institutions have replaced them to take a whopping 60 percent of revenues.
By Sky Canaves
Sky Canaves previously reported for The Wall Street Journal in Beijing and Hong Kong, where she covered media, culture, social issues, and legal affairs, and served as the founding editor and lead writer of the WSJ’s China Real Time site. Prior to becoming a journalist, Sky worked in the China corporate law practice of Baker & McKenzie, and she has also taught journalism and media law at the University of Hong Kong. She speaks Mandarin and has accumulated more than a decade's experience living, studying and working in China.