Foreign banks are only nibbling at the edges of Chinese domestic work as the country continues to limit access. A handful of international banks have secured joint ventures with local banks for domestic securities activity, but the doors show little sign of being flung open.

Philip Partnow at UBS Securities in Beijing described the process as banks "slowly meandering through the door" as Beijing stands firm on limited joint ventures - the biggest stake a foreign bank can take in a local securities house is 33.3%.