Citic Securities, China's largest securities company, is teaming up with Evercore Partners, the US investment bank, in a joint venture that will make direct investments and advise clients on both sides of the Pacific.
The new company, Citic Securities International Partners, will be headed by Donald Tang, the former vice-chairman of Bear Stearns.
In forming their new relationship, the two sides are hoping that China's increasing integration with the world economy and financial markets will not be derailed by the meltdown in the markets. China's exports have been hard hit by the consumer- led recession in the west and its economic growth has slowed sharply in recent months.
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