China International Capital Corporation

Chinese company

China International Capital Corporation Limited

Headquarters in Beijing

Native name

| 中国国际金融股份有限公司
Type| Public; State-owned enterprise

Traded as

* SEHK: 3908
* SSE: 601995

Industry| Banking, Financial services
Founded| 1995; 28 years ago (1995)
Headquarters| China World Office 2,
1 Jianguomenwai Avenue,
Chaoyang District,
Beijing, China

Key people

| Shen Rujun(Chairman)
Huang Zhaohui(CEO)
Products| Investment banking, Equities, FICC, Asset management, Private Equity Investment, Wealth management, Research

Number of employees

| 13,557 (2021)
Website| cicc.com

China International Capital Corporation Limited (CICC; 中国国际金融股份有限公司) is a Chinese partially state-owned multinational investment management and financial services company. Founded in China in 1995, CICC provides investment banking, securities and investment management services to corporations, institutions and individuals worldwide.

As the first international joint-venture investment bank in China, CICC provides domestic, overseas, and cross-border financial services including investment banking, equities, FICC, asset management, private equity investment, wealth management and research.[citation needed]

Headquartered in Beijing, CICC has over 200 branches in Mainland China and offices in Hong Kong, Singapore, New York City, London, San Francisco, Frankfurt and Tokyo.

## History[edit]

On July 31, 1995, CICC was incorporated by China Construction Bank, Morgan Stanley, China National Investment and Guaranty Co Ltd, GIC, and the Mingly Corporation, as the first Sino-foreign joint venture investment bank. At the time of CICC's incorporation, China Construction Bank and Morgan Stanley were its largest shareholders, with 42.5% and 35% of interests, respectively.

In 1997, CICC established its first overseas subsidiary in Hong Kong, through which CICC became the first Chinese investment bank conducting securities underwriting business in Hong Kong. In 1997, CICC completed its first overseas initial public offering project, the IPO of China Mobile on the Hong Kong Stock Exchange, which marked the beginning of the restructuring and overseas listing of large state-owned enterprises directly under the State Council of China. It was also the largest IPO in Asia as well as the largest IPO of China-based companies ever up until the end of 1997.[1]

In 2004, China Construction Bank transferred its equity interest to China Jianyin Investment, which later transferred that to China Central Huijin, a wholly owned subsidiary of China Investment Corporation. In 2010, Morgan Stanley sold its holdings to TPG, KKR, GIC and Great Eastern.[2] CICC established its FICC division, and was one of the earliest investment banks to conduct fixed income business in China.

In 2007, CICC set up its wealth management division, and was one of the earliest investment banks to engage in wealth management business in China.

In 2010, CICC became the first investment bank to obtain approval from the China Securities Regulatory Commission to raise and manage private equity funds.

In 2015, CICC was converted into a joint stock company with limited liability whose top three shareholders were Huijin, GIC and TPG. In November 2015, CICC completed its own IPO on the Hong Kong Stock Exchange.[3]

In 2016 CICC acquired China Investment Securities from Central Huijin in an all-share deal.[4]

In 2017, CICC acquired a majority stake (50+%) in US KraneShares, a leading exchange-traded fund provider that focuses on Chinese listed companies, with its biggest fund (KWEB) focused on Chinese Internet companies.[5] In 2017, giant Chinese internet company, Tencent acquired a 5% stake in CICC.[6]

In 2020, CICC became a listed company in China A-share market.

## Divisions[edit]

CICC's major business segments: Investment Banking, Equities, Fixed Income, Private Equity, Asset Management, Wealth Management and Research.

## Shareholding Structure[edit]

As of October 31, 2021, its shareholding structure was as follows:[7]

* 40.17% Central Huijin Investment Ltd.
* 30.74% HKSCC Nominees Limited
* 8.26% Haier Group (Qingdao) Financial Holdings Ltd.
* 4.49% Alibaba Group Holding Limited
* 4.48% Tencent Holdings Limited
* 2.64% China National Investment and Guaranty Corporation
* 0.38% Hong Kong Securities Clearing Company Limited
* 0.32% China Reform Investment Co., Ltd.
* 0.32% China Structural Reform Fund Corporation Limited
* 0.29% Abu Dhabi Investment Authority
* 7.92% Other Public Shareholders (A+H shares)

## Notable former employees[edit]

* Wang Qishan – Vice President of the People's Republic of China
* Wu Jinglian – Chinese economist
* Xu Xiaonian – Professor of Economics and Finance at China Europe International Business School
* Bei Duoguang – CEO of JPMorgan First Capital Securities
* Ding Wei – Head of Temasek China[8]
* Fang Fenglei – Chairman of Goldman Sachs Gao Hua Securities, Chairman of Hopu Investments
* Ha Jiming – Vice Chairman, China of Goldman Sachs Private Wealth Management
* Jiang Guorong – Vice Chairman of UBS Asia[9]
* Jin Liqun – President of Asian Infrastructure Investment Bank[10]
* David X. Li – Chinese statistician
* Marshall Nicholson – Hong Kong investment banker with BOC International and Nomura Holdings
* Wu Shangzhi – chairman and Managing Partner of CDH Investments
* Levin Zhu – son of Zhu Rongji, a former Premier of the People's Republic of China[11]

## See also[edit]

* Economy of China
* Chinese financial system
* Banking in China
* Securities industry in China

## References[edit]

1. ^ "1997: China Telecom's US$4.2bn IPO: landmark privatisation". IFRe. Retrieved 2016-02-06.
2. ^ "Morgan Stanley Receives Regulatory Approvals for CICC Stake Sale". Morgan Stanley. Retrieved 2016-02-06.
3. ^ "Prospectus: Global Offering" (PDF).
4. ^ "CICC acquires China Investment Securities for US$2.5 billion". The Gulf Time Emirates Business. 5 November 2016. Retrieved 8 October 2020.
5. ^ "BRIEF-China's CICC to acquire majority stake in U.S. asset management firm KraneShares". Reuters. 10 July 2017. Retrieved 8 October 2020.
6. ^ "Tencent's stake purchase boosts CICC shares to all-time high". Reuters. 20 September 2017. Retrieved 8 October 2020.
7. ^ "Shareholding Structure of CICC".
8. ^ Venkat, P. R. "Temasek Taps CICC Heavyweight for China Operation". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-02-05.
9. ^ Hughes, Jennifer. "China's rainmakers head for cover". Financial Times. ISSN 0307-1766. Retrieved 2016-02-05.
10. ^ Ho, Prudence. "CICC Chairman Jin Liqun Resigns". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-02-05.
11. ^ Barboza, David (14 October 2014). "Longtime Chief Leaves C.I.C.C., a Major Chinese Investment Bank". DealBook. Retrieved 2016-02-06.

## Further reading[edit]

McGregor, James (2005). One Billion Customers: Lessons from the Front Lines of Doing Business in China. New York: Free Press. ISBN 978-0743258418.

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