Free iPhones, revealing miniskirts and Chinese new year “red envelope” cash are among the tactics bankers say investment strategists are employing to attract votes for annual rankings in China’s “Oscars of sellside research”.
The intense competition for recognition in the annual rankings, run by business magazine New Fortune, is another sign of how Chinese financial markets are adopting western-style practices with domestic characteristics.
“Winning the award means getting big pay packets rivalling or even surpassing those on Wall Street. The incentive to cheat in an immature system is high,” said Hong Hao, head of research at Bocom International n Hong Kong.
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