Taylor Rafferty bought by Chinese firm

Chinese financial services conglomerate Xinhua Finance has acquired financial PR firm Taylor Rafferty for an undisclosed sum, in a move that promises to give Chinese firms access to US and UK capital markets.

'A significant percentage of our UK clients are undertaking great efforts to put down roots in China,' said Taylor Rafferty co-founder and MD Brian Rafferty. 'Chinese firms are looking to access international capital markets and are coming to London.'

He said that the deal provided 'infrastructure, brand and management support to build our presence in China that we could never have hoped to achieve on our own. There is an awareness that may not have existed in earlier rounds of Chinese privatisation, that investor relations is important'.

Taylor Rafferty has offices in New York, Tokyo and a 15-strong London operation. Its UK clients include Lloyds TSB and Tate & Lyle.

Xinhua Finance offers IR services to clients including Bank of China, China Automotive and the Agricultural Bank of China.

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