China banks miss out on US investment banking bonanza

New York

AS scores of investment bankers profit from the fee bonanza offered by Chinese companies hunting for deals in the United States, one group is conspicuously absent - Chinese banks.

Despite their deep ties with Chinese firms, the country's largest state-owned banks are missing out on the hundreds of millions of dollars that Wall Street banks and their European rivals earn when advising Chinese companies on acquisitions and share and debt sales.