CICC Plans Major Merger with Dongxing & Cinda

Chinas leading investment bank, CICC, plans a major merger with Dongxing and Cinda Securities, aiming to create a world-class firm and better compete with global giants. The combined entity would have a total capital of $1.6 billion, but trading of CICC shares will be paused for up to 25 days due to the mergers complexity. Beijing supports this consolidation to cultivate top-tier domestic investment banks, with a goal of having two to three globally competitive banks by 2035.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.