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Banks return China investment quotas as clients bypass middlemen

Host of lenders hand back US$800m to the authorities; quota rental fees tumble to 20 from 200 basis points

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Global banks have started to hand back investment quotas used to buy Chinese stocks and bonds because alternative channels for investment in China and the sliding yuan are making this once-lucrative business unprofitable.

Hong Kong

GLOBAL banks have started to hand back investment quotas used to buy Chinese stocks and bonds because alternative channels for investment in China and the sliding yuan are making this once-lucrative business unprofitable.

While China's move to open up its capital markets...

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