Haitong International Securities has cut ties with UBS after a comment about Chi...
BEIJING/SHANGHAI - Haitong International Securities has cut ties with UBS after a comment about Chinese pigs by a top economist at the Swiss bank was perceived by some as a racist slur.
“There is not a clear timetable on when to resume the collaboration, which is subject to the management’s decision,” Haitong International said in an email sent to Reuters. African swine fever, a disease deadly to pigs, is ravaging herds across Asia. China has reported more than 120 outbreaks since it was first detected in the country in August.
In December last year, UBS became the first foreign bank in China to get official approval to acquire a controlling stake in its local securities joint venture.
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