Goldman Sachs 2004 Annual Report Download - page 12

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goldman฀sachs฀฀
gao฀hua฀securities฀
company฀limited—
Growing with the
Chinese capital markets.
I D E A S ฀
In฀2004,฀Goldman฀Sachs฀formed฀a฀unique฀joint฀venture—฀
Goldman฀Sachs฀Gao฀Hua฀Securities฀Company฀Limited—which฀
will฀bring฀Goldman฀Sachs’฀experience฀and฀practices฀to฀China’s฀
domestic฀market฀for฀the฀first฀time.฀This฀venture฀represents฀the฀
first฀time฀a฀global฀investment฀bank฀has฀teamed฀up฀with฀a฀newly฀
established฀local฀firm,฀and฀is฀one฀of฀the฀first฀joint฀venture฀invest-
ment฀banks฀approved฀by฀China฀since฀its฀momentous฀accession฀
to฀the฀World฀Trade฀Organization.฀Our฀cooperation฀with฀the฀฀
Chinese฀securities฀firm฀Beijing฀Gao฀Hua฀Securities฀Company฀
Ltd.฀builds฀on฀Goldman฀Sachs’฀leadership฀in฀representing฀leading฀
Chinese฀companies฀in฀international฀capital฀markets.
C A P I TA L ฀
As฀one฀of฀the฀fastest฀growing฀major฀economies฀in฀the฀world,฀
China฀remains฀a฀strategic฀priority฀for฀Goldman฀Sachs.฀This฀new฀
venture฀will฀provide฀the฀firm฀unprecedented฀access฀to฀local฀฀
Chinese฀clients,฀helping฀them฀further฀their฀goals฀in฀both฀the฀฀
domestic฀and฀global฀capital฀markets.฀It฀deepens฀our฀ability฀฀
to฀connect฀capital฀with฀the฀best฀ideas฀in฀one฀of฀the฀most฀฀
dynamic฀parts฀of฀the฀world.฀Establishment฀of฀this฀new฀and฀฀
historic฀venture฀is฀the฀foundation฀of฀Goldman฀Sachs’฀long-฀
term฀commitment฀to฀China.
PEOPLE฀
The฀creation฀of฀Goldman฀Sachs฀Gao฀Hua฀Securities฀Company฀
Limited฀brought฀together฀a฀diverse฀team฀across฀business฀฀
disciplines฀and฀regions฀to฀develop฀this฀unique฀joint฀venture.฀฀฀
It฀required฀support฀from฀the฀highest฀levels฀of฀the฀Chinese฀฀
government฀as฀well฀as฀local฀regulators.฀With฀singular฀focus,฀a฀
dedicated฀group฀of฀people฀from฀both฀partners฀worked฀through฀a฀
wide฀range฀of฀significant฀challenges฀to฀launch฀this฀new฀company.฀฀
Together,฀they฀will฀provide฀the฀firm’s฀seamless,฀high฀quality฀฀
service฀across฀a฀broad฀array฀of฀products฀for฀Chinese฀clients.
10฀฀฀G O L D M A N ฀ S A C H S ฀ 2 004฀ A N N U A L ฀ R E P O RT
10฀฀฀G O L D M A N ฀ S A C H S ฀ 2 004฀ A N N U A L ฀ R E P O RT