After a frenetic period during the post Covid-19 bubble, investment banking business in Hong Kong has pretty much collapsed.
The bread-and-butter business of taking Chinese companies public in Hong Kong or the US screeched to a halt about two-and-a-half years ago, and there are few signs of revival. China M&A volumes have collapsed, and market liquidity on the Hong Kong stock exchange is also drying up.
No wonder then that this Bloomberg article blew up in the Hong Kong financial community.
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