China’s investment banking fees drop 25% in 9M 2024

ECM underwriting fees, M&A advisory fees, and syndicated lending fees all registered declines.

Investment banking fees generated in China during the first nine months of 2024 were 25% lower compared to the same period a year ago, according to data from the London Stock Exchange Group’s Deals Intelligence (LSEG).

An estimated $9.1b worth of fees were generated in China during the period. ECM underwriting fees accounted for 11% of this at $984.6m— plunging 73% compared to the first three quarters of 2023.

This is in line with the rest of the Asia Pacific region excluding Japan, where investment banking fees in the first nine months of 2024 also fell to its lowest level in 7 years.

DCM underwriting fees generated in China totalled $7.3b, a 1% increase compared to 2023.

Completed mergers & acquisitions (M&A) advisory fees dropped 32% to $7.3b over the same period.

Syndicated lending fees were $470.2b in total, a 33% drop. 

Amongst banks, CITIC leads the fee league tables, garnering $736.4m in related fees or an 8.1% wallet share during the first nine months of 2024.