The winning ways of a profit generator

Morgan Stanley’s China business is highly profitable, says co-head of China investment Jonathan Zhu. He tells Karina Robinson, in Beijing, about the bank’s winning strategies.China may be slowing down as the authorities cut back on credit availability but foreign investment banks’ business is being boosted: as the government puts the brakes on credit, domestic companies are turning abroad for their funds and Morgan Stanley is one of the beneficiaries.The US-headquartered investment bank ranks number two in Chinese equity capital markets in the year-to-date with a deal value of $2589m, giving it a 19% market share, according to data provider Dealogic.