The chapter delves into the evolution of a Chinese investment bank, detailing its transition from a profit-driven Western-focused institution to one aligned with the Chinese Communist Party, raising concerns among global investors about China's business transparency. It also discusses the bank's strategic partnerships, growth, and adaptation to China's evolving economic priorities.
One after another, bankers at China International Capital Corporation — China’s premier investment bank – are pledging loyalty to the Communist Party, underscoring a new reality for Wall Street-style capitalists in the era of Xi Jinping.
Today on The Big Take Asia, host David Gura speaks with Bloomberg’s Cathy Chan about the tug-of-war between communism and capitalism at the “Morgan Stanley of China,” and how politics are redefining Chinese finance.
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