China brokers and securities houses look to the global market

Attention has focused on inbound China activity – but mainland firms are now looking outwards

The slight grimace of pain that flickered across the face of a senior figure from an interdealer broker when Asia Risk asked whether he was worried about the rise of Chinese brokers was as revealing as the three word answer of, "yes, a lot".

As global investors swoon over the epic returns available on China's frothing cash equity markets – the Shanghai Composite index was up 151% versus 12 months ago, before its recent correction, for example – Chinese firms have been quietly building up their