Banks' revenue buoyed by Chinese tech floats

Chinese technology companies have become the largest sources of underwriting fees for global investment banks this year thanks to buoyant initial public offering activity, financial data provider Dealogic LLC said on Tuesday.

"China is the top fee-paying nation for global technology IPO revenues year-to-date with $614 million," the firm said in a release.

China alone accounted for 47 percent of the $1.3 billion in global investment banking fees from technology IPOs this year.