They are counting on warmer bilateral ties to help break a logjam for US investment banks trying to expand their businesses in China, while also helping to smooth the approvals process for mergers and acquisitions, say the dealmakers.
US investment banks, including Morgan Stanley and Citigroup, are awaiting approval for mainland securities joint ventures over a year after signing agreements with local partners.
By contrast, Chinese authorities have in recent months only approved licence applications made by European banks, including Credit Suisse, Deutsche Bank and Credit Lyonnais.
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