CITIC Securities Co Ltd (600030.SS)
24 Nov 2017
HONG KONG (Reuters Breakingviews) - China is letting outside investors join the front line in its war on debt. The government will let foreigners control financial-sector joint ventures, and says it will eliminate ownership caps completely in a few years. Western financiers have been burned by such promises before. But the $10 trillion in uninvested savings languishing in local banks, plus a burgeoning wealth management industry, should encourage experienced players to take a second swing.
* Acquisition of 6.53% equity interest in CITIC Futures from CITIC Industrial Investment Group
Further company coverage: ($1 = 6.6276 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)
* Says Citic Trust plans to reduce 0.16 percent stake in the company within six months
SHANGHAI, Oct 30 China's biggest brokerage CITIC Securities Co Ltd reported an 11 percent rise in third-quarter earnings.
Oct 30 Citic Securities Co Ltd * Says 9-month net profit down 0.2 percent y/y Source text in Chinese: http://bit.ly/2ziyhVx Further company coverage: (Reporting by Hong Kong newsroom)
* Says it completed issuance of 2017 2nd tranche subordinated bonds (2 kinds) worth totaling 5.7 billion yuan, on Oct. 26
BEIJING, Oct 24 China's Sinochem Group is reviewing its struggling oil exploration business and plans expansions into material and life sciences over the next decade in major strategy shift, the chairman of the state-run conglomerate said.
HONG KONG Chinese firms Primavera Capital Group and CITIC Private Equity plan to raise new dollar-denominated funds totalling around $5 billion (£3.8 billion) in a bid to bolster their firepower for offshore investments, six sources told Reuters.
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