November 29, 2016 / 2:51 AM / in a year

China Renaissance launches Shanghai venture

HONG KONG, Nov 29 (Reuters) - Boutique investment bank China Renaissance on Tuesday launched a securities joint venture in mainland China, looking to win more advisory business and a piece of the booming market for stock broking in the world’s second largest economy.

The move contrasts sharply to cutbacks from global and regional giants including Goldman Sachs and Bank of America which are reeling from a sharp decline in deal activity in Asia Pacific. (Reporting by Julie Zhu and Elzio Barreto; Editing by Edwina Gibbs)

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