Asianfin -- BNP Paribas has conducted its first round of layoffs in its China investment banking unit since it expanded two years ago, with approximately 10 positions cut due to the sluggish trading market. Last week, the bank dismissed seven employees from its investment banking, corporate finance, and equity capital markets teams in Hong Kong, along with three staff members in mainland China offices. Around 10% of BNP’s China-related workforce is reportedly impacted, including a managing director responsible for IPOs.