Can anyone provide info on how GS/Gao Hua has been performing in China this past year or so? What are their strengths?
I know most securities brokerages on the mainland make their money from cash equities retail commissions and that IPOs are dead but aside from that haven't been able to find much info on gao hua.
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Not very sure on their performance in China but isn't it gao sheng instead of gao hua?
gao hua securities is the JV they set up
gaosheng is just the chinese name for goldman sachs. goldman sachs gao hua is the joint venture goldman started with gao hua securities in china to conduct investment banking activities. gs has a pretty strong wealth management presence there--investment products to institutional/high net worth clients. otherwise, i'm pretty sure ubs has the biggest cut of the underwriting business for a foreign bank in china and if you want to do banking on the mainland...just go with cicc. last time i was in china, gs still had a pretty bad rep from li delin's "the goldman sachs conspiracy" book. i also thought citi was strong in china, but that might just be commercially speaking.
^ Citi or CITIC? I think you mean the latter...
Nice, I didn't know that.
I meant citi as a commercial banking presence. they do some underwriting work as well, but I haven't heard much out of their JV (citi orient securities co). don't know much about citic, I really only hear cicc being thrown around.
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