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Finance

Global banks see US-China tensions halting deal-fees boon in 2021

Foreign firms say accounting rules will push listings to mainland and Hong Kong

Non-Chinese banks have earned hundreds of millions of dollars for helping Chinese companies raise money on the New York Stock Exchange and the Nasdaq.   © Reuters

HONG KONG -- Global investment banks earned the most fees in a decade from equity offerings by Chinese companies over the past year, but they fear the revenue pool will diminish in 2021 amid moves by U.S. authorities to kick mainland corporations off American exchanges.

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