CITIC Securities

By: EconomyWatch   Date: 17 July 2010

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CITIC Securities is a leading investment banking company in China having its headquarters in Beijing. This state owned company is ranked #1139 in Forbes 2000 list of companies. CITIC Securities is a provider of high quality financial services in fields of equity research, investment banking and brokerage services.
CITIC Securities focuses on security brokerage and investment banking operations primarily in Mainland China. CITIC Securities is popularly known as CSI Limited. CSI Limited has 44 subsidiary companies including CITIC Holdings, CITIC Merchant Company, China CITIC Bank, CITIC Trust Company and CITIC Holdings. CSI Limited, apart from China and Hong Kong has operations in USA, Canada, Australia and New Zealand.

Brief history
CITIC Securities with its headquarters in Beijing was set up in 1979 as a state owned company. This finance company was founded by Rong Deshen, one of the wealthiest individuals in mainland China. With a strong foundation of investment banking in Chinese mainland, CSI Limited has forayed into overseas equity business too. After 2007, it has emerged as an overseas integrated investment banking organization.

Products and services
Services and products offered by CSI Limited include:

Investment banking – Investment banking services include investing in capital markets in and outside China, trading in securities, and investing in mutual funds.
Equity research – CSI Limited is committed to provide market intelligence and equity research to investors. It also provides information on sector analysis and Honk Kong based organizations.
Brokerage – CITIC Securities Brokerage (Hong Kong) Limited, a subsidiary of CSI, is engaged in cross border trading in securities and equities. Two decades of consistent performance has made CITIC Securities Brokerage Limited create a dedicated and diversified customer base. CSI also provides futures trading through CITIC Securities Futures Limited.

Financials
Total revenue projected for year 2008 is US $19,240 million, and net income is estimated at US $7,781 million.

Awards and recognition
CITIC Securities (Hong Kong) Limited has been recognized as ‘The Caring Company’ by Hong Kong Council of Social Service for 2006-07. In May 2007, CITIC announced a record breaking listing of CITIC China Bank.


Financial crisis
With effect from November 1, 2008 CITIC Securities has decided to reduce salaries of its employees by about 15%. This is being done in view of decrease in total earnings of this company.


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