CITIC Securities Company Limited is engaged in securities business in China

China

Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...

, including securities brokerage, investment banking

Investment banking

An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...

, asset management, securities investment

Investment

Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...

, stock

Stock

The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...

 and bond

Bond market

The bond market is a financial market where participants can issue new debt, known as the primary market, or buy and sell debt securities, known as the Secondary market, usually in the form of bonds. The primary goal of the bond market is to provide a mechanism for long term funding of public and...

 trading, stock market

Stock market

A stock market or equity market is a public entity for the trading of company stock and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately.The size of the world stock market was estimated at about $36.6 trillion...

 research

Research

Research can be defined as the scientific search for knowledge, or as any systematic investigation, to establish novel facts, solve new or existing problems, prove new ideas, or develop new theories, usually using a scientific method...

 and consulting

Consultant

A consultant is a professional who provides professional or expert advice in a particular area such as management, accountancy, the environment, entertainment, technology, law , human resources, marketing, emergency management, food production, medicine, finance, life management, economics, public...

 services. It was established in 1999 and it is headquartered in Shenzhen

Shenzhen

Shenzhen is a major city in the south of Southern China's Guangdong Province, situated immediately north of Hong Kong. The area became China's first—and one of the most successful—Special Economic Zones...

, Guangdong

Guangdong

Guangdong is a province on the South China Sea coast of the People's Republic of China. The province was previously often written with the alternative English name Kwangtung Province...

. Its parent company

Parent company

A parent company is a company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors; the second company being deemed as a subsidiary of the parent company...

 is CITIC

CITIC

Not to be confused with Citigroup, another large financial services company.Not to be confused with CIT Group, another large financial services company....

 Group.

Listing

CITIC Securities was listed on the Shanghai Stock Exchange

Shanghai Stock Exchange

The Shanghai Stock Exchange , abbreviated as 上证所/上證所 or 上交所, is a stock exchange that is based in the city of Shanghai, China. It is one of the two stock exchanges operating independently in the People's Republic of China, the other is the Shenzhen Stock Exchange...

 in 2003. It is one of the SSE 50 constituent stocks and one of the top ten constituent stocks in iShares FTSE/Xinhua A50 China Tracker

IShares FTSE/Xinhua A50 China Tracker

The iShares FTSE A50 China Index ETF , a sub-fund of the iShares Asia Trust and formerly named iShares FTSE/Xinhua A50 China Index ETF, is the fund to track the performance of the FTSE/Xinhua China A50 Index quoted in RMB...

.

Rank

In 2008 CITIC Securities Co topped the list of 107 securities companies and became No 1 underwriter, according to the Securities Association of China

Securities Association of China

The Securities Association of China is a self-regulatory organization for securities industry established according to the provisions of the “Securities Law of the People’s Republic of China” and the “Administrative Regulations on the Registration of Public Organizations”...

. CITIC Securities underwrote 111.93 billion yuan ($16.36 billion) in stocks and bonds, accounting for 17.6 percent of the total underwriting amount of this sector, while 2007 champion China International Capital Corporation (CICC) has assumed the role of the runner-up, reaching 10.3 percent market share. Due to a sluggish capital market

Capital market

A capital market is a market for securities , where business enterprises and governments can raise long-term funds. It is defined as a market in which money is provided for periods longer than a year, as the raising of short-term funds takes place on other markets...

, the two companies' underwriting business in 2008 dropped about 17 percent and 55 percent respectively year-on-year.

On 16 March, 2009, CITIC Securities Co., the biggest securities firm by market value

Market value

Market value is the price at which an asset would trade in a competitive auction setting. Market value is often used interchangeably with open market value, fair value or fair market value, although these terms have distinct definitions in different standards, and may differ in some...

 on the mainland

Mainland China

Mainland China, the Chinese mainland or simply the mainland, is a geopolitical term that refers to the area under the jurisdiction of the People's Republic of China . According to the Taipei-based Mainland Affairs Council, the term excludes the PRC Special Administrative Regions of Hong Kong and...

, said it had set up an investment-banking venture with Evercore Partners Inc. Former Bear Stearns Cos. vice chairman Donald Tang

Donald Tang

Donald Tang is an American investment banker who is the founder and CEO of the CSIP Group and a former Vice-Chairman of Bear Stearns.-Early life:...

would be chief executive officer of the new company, called CITIC Securities International Partners.

External links

• CITIC Securities Company Limited