UBS China Pins Hopes on China Bond Market, Derivatives

by swisscham in Bank, Finance, Insurance

UBS says it will step up efforts at its mainland securities brokerage business, after earnings fell to a four-year low. UBS Securities, a joint venture managed by the Swiss banking group, reported last month its net earnings shrank by more than 90% to RMB 11.3 million (HKD 14.3 million) over the four-year period to last year. Fellow investors in the firm, which began operations in 2007 after UBS took a stake in failed Chinese brokerage Beijing Securities, include China Jianyin Investment, State Development & Investment Corp, China Oil & Foodstuffs and International Finance Corp. Currently, China’s bond market represents about 30% of total borrowings in the country, compared with 70% in the United States. That suggests most borrowers are overly reliant on bank loans, which some officials and analysts see as dangerous for the economy.

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