China

MUFG Bank is investing in its Greater China business, but will its strategy pay off?

Two critical developments in China caught the financial markets off guard in 2021.

The 32nd annual Asiamoney Brokers Poll is a Vox Populi poll that identifies the leading brokerages for equities research, sales and trading in Asia. Voters are institutional investors who represent fund management firms, wealth managers, hedge funds, pension funds, and insurance companies that trade in Asia.

Many ABS deals in China caught Asiamoney’s attention this year, whether from new issuers and asset classes or because they came with structural innovations.

Among China’s securities houses, China International Capital Corp impressed Asiamoney the most with its ability to innovate.

Bank of Communications has led or jointly led many landmark deals in China since it received its first ABS underwriting licence in 2013, and its peers, including foreign firms, have noticed.

When it comes to international banks operating in China’s securitization market, HSBC is an outlier – not because of its market dominance, but because of its strategy for the asset class.

Since setting up the ABS department in 2006, Citic Securities has become an indisputable leader in the market.

Bank of China continues to lead the way in asset-backed securitization in mainland China, making it a clear choice for the best domestic bank for securitization award.