HSBC's Asia house of the year win made in China

Shifting rates traders from Singapore to China helped HSBC build share

William Shek
William Shek, HSBC

India and China have both been the focus of positive derivatives market sentiment over the past 12 months, but as one Hong Kong-based head of prime broking for a global bank points out, the dynamics that drive the markets in Asia's two most populous countries are very different: "India is about economic fundamentals – but China is about policy".

The past 12 months have seen a lot of policy. This started with the announcement of the Shanghai free trade zone this time last year, which was quickly