What's your outlook for the ADR business this year
Lopian There'll be more ADR business across Asia this year. It's fair to say that 2004 could be better than the prior three years combined.
China is always going to be at the top of the leaderboard in this part of the world in terms of volumes. The scale of the capital that is planned to be raised is massive, led by the banks and financial institutions. This really started at the tail end of last year with China Life. I would think the big deals will be the China banks, which will happen towards the end of the year. They alone...
