Bloomberg: Wall Street Loves China More Than Ever
January 04, 2022
Wall Street has long eyed China as the last great moneymaking frontier, and 2021 was supposed to be the year companies’ vast investments would start to bear fruit. Global bankers say they’re just getting started with new licenses to expand on their own after decades with local partners, and that gaining just a fraction of the $45 trillion market would lead to windfalls. Global banks and money managers could eventually take 10% of the mutual fund market in China over five years, says Jasper Yip at Oliver Wyman in Hong Kong.
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