Credit Suisse and Morgan Stanley have both reached investment-banking joint venture deals with Chinese partners, but are still waiting for Beijing to make good on its promise to lift an official moratorium on new tie-ups with foreign securities firms by the end of the year, the Wall Street Journal reported. Credit Suisse has partnered with Beijing-based Founder Group, while Morgan Stanley has joined with China Fortune. The latter is a proposed deal that, if approved, could give Morgan Stanley a controlling stake.
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