BEIJING/SHANGHAI - Haitong International Securities Group Ltd said it has cut ties with UBS Group AG, following a comment about Chinese pigs made by the Swiss bank’s global chief economist that 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. A flippant reference to pigs in an inflation analysis by the economist caused a furor in China, with some in the financial community rejecting UBS’ apology and calling for a boycott.
“We have removed the audio comment from circulation. To be clear, this comment was about inflation and Chinese consumer prices rising, which was driven by higher prices for pork.”
really trying hard to be offended, and in any case Haitong is a competitor of UBS so maybe former just pot stirring
Good chinese bankers go to work for ubs or gs, morons work for haitong, citic or bocom
Seems like a paranoid overreaction to me🙄