BUSINESS/CHINA/COMMERCE/TRUMP AS PRESIDENT: “Goldman Sachs Group Inc Chief Executive Lloyd Blankfein will visit China as part of a business delegation in November at the same time as U.S. President Donald Trump, a Goldman spokesman confirmed.
Blankfein will be the only executive of a major financial company traveling as part of the trade mission which is being led by U.S. Commerce Secretary Wilbur Ross, according to a preliminary list…
China is an important region for Goldman, which ranked as the top M&A dealmaker in Asia-Pacific excluding Japan in the first nine months of the year, according to Thomson Reuters data. While Wall Street firms like Goldman have to partner with a Chinese joint venture firm to run their investment banking businesses on the mainland, U.S. banks have for years been trying to operate these businesses on their own.
Following a trip to Beijing earlier this year, Blankfein said there was a ‘a lot of confidence in China’ and it was ‘almost an island of stability.’ “
-Olivia Oran, “Goldman’s Blankfein is only major financial firm CEO to join Trump on China trip,” Reuters, Nov. 2, 2017 09:26am