Investment banks want to boost stakes in China JVs

Morgan Stanley and UBS Group AG have reportedly engaged in discussions about increasing their holdings in their China securities business, reflecting growing confidence in joint ventures in the Chinese mainland, according to a Bloomberg report.

A source familiar with the matter told China Daily that Morgan Stanley would raise its stake to 49 percent, the maximum allowed under current regulations. The source said the plan is still subject to regulatory approval.

Currently, Morgan Stanley holds 33.3 percent in its China joint venture Morgan Stanley Huaxin Securities Co.