When two of China’s largest brokerages merged last year, it wasn’t simply a business story but a political one, steered by the Chinese state’s ambition to create investment banks that can rival Goldman Sachs and Morgan Stanley. The combination of state-backed Guotai Junan Securities and Haitong Securities created Guotai Haitong Securities, a 40-billion-dollar firm listed in Shanghai and Hong Kong with more than $230 billion (€202 billion) in assets under management. The newly created behemoth in Chinese financial services has an Irish nexus that is now up in the air. Haitong Investment Ireland PLC was registered in Ireland 30 years…

Want to continue reading?

Join today with an Annual membership and unlock full access to The Currency and The Wall Street Journal for just €200 – two premium memberships, one subscription.

Subscribe

Cancel at any time.

Are you already a member? .