Da-xia most likely not working in the capital market or banking area.
China gvmt put in over 100B USD in 2004/05 to help the top state own banks to improve its reserve and NPL ratio. 45B along for one bank (see link below).
Big IBs on Wall Street only came in after the huge cash injection by China gvmt and got a terrific deal by getting deep discounted pre-IPO share allocations as well as the wind fall fees from taking the Chinese banks IPO overseas.
Since then, the NPL ratio has rising again...We will know by the time the bubble bursts.
