China: don t mistake Xi Jinping s crackdowns for a second Cultural Revolution theconversation.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theconversation.com Daily Mail and Mail on Sunday newspapers.
Richard Ip April 14, 2021 08:45
Since Joe Biden was sworn in as the US president in January 2021, China has imposed sanctions against several dozens of individuals and organisations in the US, Canada, the EU and the UK for interfering in China’s internal affairs and spreading misinformation in relation to human rights issues in Xinjiang.
The affected parties are not troubled by the sanctions beyond the righteous anger over being sanctioned for speaking up for the values of human rights and democracy. However, they should be concerned if they aspire to join the private sector following their public services, in that China’s sanctions are not just about travel bans but restrictions over how sanctioned parties may engage with China.
The race is on to secure top banking talent in China as international banks firms to take full ownership of their joint ventures on the mainland and bolster their presence by recruiting locals or luring top bankers from Hong Kong.
“China coverage remains at the forefront of hiring, a situation compounded by the relaxing of the onshore JV rules which has led to international banks competing aggressively for talent,’ says Simon Roberts, chairman for Asia at Sheffield Haworth. “The onshore market remains extremely robust both in terms of deal flow and the demand for talent.”
Credit Suisse has become the latest bank to seek 100% ownership of its Chinese joint venture as it looks to offer more investment banking products to the region’s entrepreneurs. “China will have the largest pool of wealth globally, no question about it, in the next couple of years,” Helman Sitohang, CEO of Credit Suisse for Asia Pacific told Bloomberg on February 19.
Will a Biden Administration Learn That Their Beijing Friends Can t Be Trusted? 1490wosh.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from 1490wosh.com Daily Mail and Mail on Sunday newspapers.