Analysis by Laura He, CNN Business
Updated 1041 GMT (1841 HKT) January 14, 2022

A version of this story appeared in CNN’s Meanwhile in China newsletter, a three-times-a-week update exploring what you need to know about the country’s rise and how it impacts the world. Sign up here.
Hong Kong (CNN Business)For many companies, doing business in China is getting trickier by the day. But Western banks and asset managers are more than willing to up their bets on the world’s second biggest economy, convinced that the opportunities remain too good to pass up.Major banks in recent weeks have inked deals to expand their footprint in China — or are otherwise attempting to take greater control of their businesses there — after years of being forced to enter the market via joint ventures. That’s despite fraught geopolitics, a slowing economy and an increasingly hostile environment for private business.Late last month, HSBC (HBCYF) received approval from Chinese regulators to take full control of its life insurance joint venture, which was created in 2009 in equal partnership with a Chinese company under rules that were rolled back in 2020. The bank said the move underscored its “commitment to expanding business in China.”
Tiếp tục đọc “China is still the ultimate prize that Western banks can’t resist”

The Tonghua Iron and Steel Mill in Tonghua, Jilin province, China, in 2016, one of many state-run steel mills that struggled to modernise (Qilai Shen/In Pictures via Getty Images Images)Published 15 Apr 2021 10:00 





