Credit Suisse Plans on Raising Stake in Chinese Joint Venture

by swisscham in BUSINESS NEWS

Credit Suisse is planning to boost its stake in its Chinese securities joint venture to the maximum permissible 49%, which would make it the first foreign bank to take advantage of relaxed Chinese investment rules introduced four years ago, three people with direct knowledge of the matter said. The Swiss bank, which currently owns 33.3% in Credit Suisse Founder Securities Ltd, is betting that boosting its shareholding in the business will help put it in a position to win a bigger share of China’s burgeoning deals business, the people added.

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