China International Capital Corporation Limited
China International Capital Corporation Limited (中国国际金融股份有限公司, commonly known as CICC) is a joint stock company incorporated in the People’s Republic of China with limited liability. Cross-referencing against China’s National Enterprise Credit Information Publicity System and an official Shanghai Stock Exchange bond disclosure confirms a Unified Social Credit Code of 91110000625909986U and a registered address of China World Tower 2, Floors 27-28, No. 1 Jianguomenwai Avenue, Chaoyang District, Beijing — consistent with the Beijing location already on file for this company. CICC was established on 31 July 1995, with approval from the People’s Bank of China, as China’s first Sino-foreign joint venture investment bank, founded by China Construction Bank, Morgan Stanley, China National Investment and Guaranty Co., GIC and Mingly Corporation.
CICC is a full-license securities and investment banking group offering investment banking, equities, fixed income (FICC), asset management, private equity investment, wealth management and research services. It operates more than 200 securities branches and offices across mainland China alongside overseas branches and subsidiaries in Hong Kong, New York, London, Singapore, Frankfurt, Tokyo, Vietnam and Dubai, under its stated mission of “Chinese Roots, International Reach.”
CICC’s H shares have traded on the Main Board of the Hong Kong Stock Exchange under stock code 3908 since 9 November 2015, and its A shares have traded on the Shanghai Stock Exchange under stock code 601995 since 2 November 2020, making CICC one of a small number of Chinese securities firms with a dual mainland/Hong Kong listing.
According to CICC’s consolidated financial statements prepared under International Financial Reporting Standards, as disclosed in a Hong Kong Stock Exchange filing dated 17 December 2025, the group reported total assets of RMB 674.7 billion and net assets of RMB 115.6 billion as at 31 December 2024, and unaudited total assets of RMB 699.8 billion as at 30 June 2025. CICC’s subsequently reported full-year 2025 results showed operating revenue of approximately RMB 28.5 billion, up around 33.5% year on year, and net profit attributable to shareholders of approximately RMB 9.8 billion, up around 72% year on year, reflecting a broad recovery in China’s capital markets.
The most material recent development is a proposed three-way merger: on 17 December 2025, CICC entered into a merger agreement with Dongxing Securities Co., Ltd. (SSE: 601198) and Cinda Securities Co., Ltd. (SSE: 601059), under which CICC would absorb both companies by issuing new CICC A Shares in exchange for their shares, subject to shareholder and regulatory approval. Trading in CICC’s shares and Hong Kong-listed notes was suspended between 20 November and 18 December 2025 while the transaction was finalised; as of the information date, the merger remains subject to regulatory approvals and shareholder votes and had not completed.
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- Digitized company financials
- Firmographics — websites, social profiles, revenue and employee estimates
Shareholders
5
Shareholders of China International Capital Corporation Limited
Central Huijin Investment Ltd., a wholly state-owned company ultimately owned by the State Council of the People’s Republic of China, directly held 1,936,155,680 CICC A Shares, equal to approximately 40.11% of CICC’s total issued share capital, as at 17 December 2025, per a Hong Kong Stock Exchange announcement. Central Huijin also holds smaller direct stakes through three wholly owned investment vehicles — China Jianyin Investment Limited, JIC Investment Co., Ltd. and China Investment Consulting Co., Ltd. — each holding 911,600 CICC A Shares (approximately 0.02%), bringing Central Huijin’s aggregate reported interest under Part XV of Hong Kong’s Securities and Futures Ordinance to just over 40.2% of the total. As at the same date, CICC had 4,827,256,868 shares in issue in total, comprising 2,923,542,440 A Shares and 1,903,714,428 H Shares.
The registry snapshot on file (verified 2 August 2026) separately lists reported institutional holders of CICC’s Hong Kong-listed H Shares, none individually exceeding about 7.7%: iShares, Inc. — iShares Core MSCI Emerging Markets ETF (7.68%), iShares China Large Cap ETF (4.41%), iShares Trust — iShares MSCI China ETF (2.45%), DFA Emerging Markets Core Equity Portfolio (2.44%) and iShares, Inc. — iShares MSCI Emerging Markets ETF (1.85%), out of 14 shareholder records reported in total. These are passive index-fund holdings in the free-float H Shares and are separate from, and not inconsistent with, Central Huijin’s much larger controlling stake in CICC’s combined A- and H-share capital.
Ultimate beneficial ownership
Central Huijin Investment Ltd. is identified by CICC itself, in Hong Kong Stock Exchange filings, as a “PRC Governmental Body” under the Hong Kong Listing Rules and as the entity in effective control of CICC through the direct holdings described above. Central Huijin is in turn wholly owned by the State Council of the People’s Republic of China. No natural-person ultimate beneficial owner is identified or applicable, consistent with CICC’s status as a state-controlled, exchange-listed financial institution.
Data availability
Shareholder disclosure for CICC is major-shareholders-only: as a company dual-listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange, CICC discloses substantial shareholdings that cross regulatory notification thresholds (broadly 5% under Hong Kong’s Securities and Futures Ordinance, alongside PRC disclosure rules for A-share holders) rather than its complete shareholder register. The figures above should not be read as a full list of CICC’s shareholders.
Sources
- China International Capital Corporation Limited, “Major Transaction and Specific Mandate to Issue CICC A Shares for the Proposed Mergers of CICC, Dongxing Securities and Cinda Securities”, Hong Kong Stock Exchange filing, 17 December 2025 — https://www1.hkexnews.hk/listedco/listconews/sehk/2025/1217/2025121701007.pdf
- Zavia.ai registry snapshot of CICC H-share institutional holdings, verified 2 August 2026
| Shareholder | Type | Holding | Source Document |
|---|---|---|---|
| iShares, Inc.-iShares Core MSCI Emerging Markets ETF | 7.7% | SAMR — public search via GSXT (National Enterprise Credit Information Publicity System) | |
| iShares China Large Cap ETF | 4.4% | SAMR — public search via GSXT (National Enterprise Credit Information Publicity System) | |
| iShares Trust-iShares MSCI China ETF | 2.5% | SAMR — public search via GSXT (National Enterprise Credit Information Publicity System) | |
| DFA Emerging Markets Core Equity Portfolio | 2.4% | SAMR — public search via GSXT (National Enterprise Credit Information Publicity System) | |
| iShares, Inc.-iShares MSCI Emerging Markets ETF | 1.9% | SAMR — public search via GSXT (National Enterprise Credit Information Publicity System) |
Officers
13
Directors and officers of China International Capital Corporation Limited
Per a Hong Kong Stock Exchange filing dated 17 December 2025, CICC’s board of directors comprised nine members: two Executive Directors — Mr. Chen Liang (Chairman) and Mr. Wang Shuguang (President) — three Non-executive Directors — Ms. Zhang Wei, Mr. Kong Lingyan and Ms. Tian Ting — and four Independent Non-executive Directors — Mr. Ng Kong Ping Albert, Mr. Lu Zhengfei, Mr. Peter Hugh Nolan and Mr. Zhou Yu. Mr. Sun Nan serves as Secretary to the Board. This structure reflects a significant leadership transition: Mr. Chen Liang was appointed Chairman and legal representative in October 2023, succeeding Mr. Shen Rujun, while the President’s role stood vacant for over a year after Mr. Wu Bo departed in April 2024, until Mr. Wang Shuguang — a CICC veteran who joined its investment banking business in 1998 — was appointed President with immediate effect on 29 August 2025.
The registry data on file separately lists five executive job titles for CICC (Chief Executive Officer, Chief Operating Officer, President and Executive Chairman, Head of Asset Management Segment, and Head of Entity Management Department) out of 13 officer records reported; these are translations used by the data provider and do not necessarily match CICC’s own English-language governance titles as disclosed to the Hong Kong Stock Exchange, where the top roles are described as Chairman and President rather than “Chief Executive Officer.” Nationality is not disclosed for any director or officer in the sources reviewed for this profile and should be treated as not disclosed rather than absent by omission; a Beijing correspondence address on file for company officers is a corporate address and must not be used to infer any individual’s nationality or country of residence.
Recent officer changes
- Mr. Wang Shuguang was appointed President of CICC with immediate effect on 29 August 2025, ending a vacancy of more than a year, and was also nominated as a candidate for Executive Director (Reuters, 29 August 2025).
- Mr. Wu Bo stepped down as President of CICC effective April 2024, about five months after his October 2023 appointment (Caixin Global, 11 April 2024).
- Mr. Chen Liang was appointed Chairman and legal representative of CICC in October 2023, succeeding Mr. Shen Rujun, and concurrently resigned his prior position as chairman of China Galaxy Securities (Yicai Global, October 2023).
Data availability
CICC, as a company incorporated in the PRC and dual-listed in Hong Kong and Shanghai, discloses its board composition and senior officers through Hong Kong Stock Exchange announcements and PRC regulatory filings, but — consistent with PRC and Hong Kong disclosure practice — does not publish directors’ nationality or personal country of residence. These fields should be treated as not disclosed for all individuals named above.
Sources
- China International Capital Corporation Limited, Hong Kong Stock Exchange filing of 17 December 2025 (director list as stated at the foot of the announcement) — https://www1.hkexnews.hk/listedco/listconews/sehk/2025/1217/2025121701007.pdf
- Caixin Global, “CICC’s Wu Bo Steps Down as President of China’s Top Investment Bank”, 11 April 2024
- Reuters, “CICC appoints Wang Shuguang as president after year-long vacancy”, 29 August 2025
- Yicai Global, “CICC’s Chair, CEO Exits Augur Retirement Wave at China’s Top Listed Brokers”, October 2023
Registry feed — rows exactly as filed with SAMR — public search via GSXT (National Enterprise Credit Information Publicity System), including entries the profile above does not cover.
Group Structure
Group structure of China International Capital Corporation Limited
China International Capital Corporation Limited is not shown as a subsidiary of any other corporate entity; it is itself the top-level, publicly listed parent of the CICC Group. Central Huijin Investment Ltd. is CICC’s controlling shareholder (see the Shareholders section) but exercises control through share ownership rather than as a corporate parent in a consolidated-accounts sense. CICC’s own disclosures describe a network of directly and indirectly held subsidiaries carrying out specific licensed business lines, consistent with the linked-entity data on file for this company, which lists more than 60 related Chinese and overseas entities. Given the size of that network, only entities independently corroborated across CICC’s public disclosures and the registry data on file are listed below as verified relationships; the remainder — mostly minority private-equity and investment-fund vehicles managed by CICC’s asset-management subsidiaries — are not individually verified for this profile.
Verified corporate relationships
| Entity | Country | Registration number | Relationship | Ownership | Status | Information date |
|---|---|---|---|---|---|---|
| China International Capital Corporation (International) Limited | Hong Kong | HK 20805395 | Direct or indirect subsidiary (principal overseas holding subsidiary) | Ownership percentage not disclosed | Active | 2026-08-11 |
| China International Capital Corporation Hong Kong Securities Limited | Hong Kong | HK 21590957 | Indirect subsidiary | Ownership percentage not disclosed | Active | 2026-08-11 |
| China International Capital Corporation Hong Kong Asset Management Limited | Hong Kong | HK 36371100 | Indirect subsidiary | Ownership percentage not disclosed | Active | 2026-08-11 |
| China International Capital Corporation (UK) Limited | United Kingdom | GB 06993716 | Indirect subsidiary | Ownership percentage not disclosed | Active | 2026-08-11 |
| China International Capital Corporation (Singapore) Pte. Limited | Singapore | SG 200814424W | Indirect subsidiary | Ownership percentage not disclosed | Active | 2026-08-11 |
| CICC Fund Management Co., Ltd. | China | CN 110000016741405 | Direct or indirect subsidiary | Ownership percentage not disclosed | Active | 2026-08-11 |
| CICC Futures Co., Ltd. | China | CN 630000100022224 | Direct or indirect subsidiary | Ownership percentage not disclosed | Active | 2026-08-11 |
| CICC Wealth Management Futures Co., Ltd. | China | CN 230000100025828 | Direct or indirect subsidiary | Ownership percentage not disclosed | Active | 2026-08-11 |
| CICC Capital Operation Co., Ltd. | China | CN 110000023055393 | Direct or indirect subsidiary | Ownership percentage not disclosed | Active | 2026-08-11 |
Recent structural changes
- Proposed merger by absorption of Dongxing Securities Co., Ltd. (SSE: 601198) and Cinda Securities Co., Ltd. (SSE: 601059) into CICC, announced 17 December 2025 and not yet completed as of the information date below; if completed, CICC would issue new A Shares to shareholders of both companies, which would then be delisted and deregistered (CICC Hong Kong Stock Exchange filing, 17 December 2025).
Data availability
Corporate-linkage information for CICC is partial: the group’s principal Hong Kong and overseas subsidiaries and a number of onshore fund-management and futures subsidiaries are identifiable from CICC’s own disclosures and from the linked-entity data on file, but exact ownership percentages are not disclosed for most entities in the sources reviewed, and CICC’s full Annual Report list of “principal subsidiaries” could not be extracted in full for this profile. This should not be read as a complete picture of the CICC Group.
Sources
- China International Capital Corporation Limited, Hong Kong Stock Exchange filing, 17 December 2025 — https://www1.hkexnews.hk/listedco/listconews/sehk/2025/1217/2025121701007.pdf
- Zavia.ai registry linked-entity data for CICC, last synced 11 August 2026
Registry feed — rows exactly as filed with SAMR — public search via GSXT (National Enterprise Credit Information Publicity System), including entries the profile above does not cover.
China International Capital Corporation Limited
China
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Frequently Asked Questions
What is China International Capital Corporation Limited?
China International Capital Corporation Limited (CICC) is a Beijing-headquartered, PRC-incorporated investment bank offering investment banking, equities, fixed income, asset management, private equity and wealth management services, dual-listed on the Hong Kong Stock Exchange (3908) and the Shanghai Stock Exchange (601995).
When was CICC founded?
CICC was established on 31 July 1995 with approval from the People's Bank of China, as China's first Sino-foreign joint venture investment bank, founded by China Construction Bank, Morgan Stanley and other investors.
Where is CICC headquartered?
CICC is headquartered at China World Tower 2, Floors 27-28, No. 1 Jianguomenwai Avenue, Chaoyang District, Beijing, China.
Is CICC a publicly listed company?
Yes. CICC's H Shares have traded on the Hong Kong Stock Exchange under stock code 3908 since 9 November 2015, and its A Shares have traded on the Shanghai Stock Exchange under stock code 601995 since 2 November 2020.
Who is the largest shareholder of CICC?
Central Huijin Investment Ltd., a wholly state-owned company ultimately owned by the State Council of the People's Republic of China, directly holds approximately 40.11% of CICC's total issued shares, per a Hong Kong Stock Exchange filing dated 17 December 2025.
What is CICC's Unified Social Credit Code?
Public registry sources and an official Shanghai Stock Exchange bond disclosure list CICC's PRC Unified Social Credit Code as 91110000625909986U.
Who is the current Chairman of CICC?
Mr. Chen Liang has served as Chairman and legal representative of CICC since October 2023, when he succeeded Mr. Shen Rujun.
Who is the current President of CICC?
Mr. Wang Shuguang was appointed President of CICC with immediate effect on 29 August 2025, ending a vacancy of over a year following Mr. Wu Bo's departure in April 2024.
What businesses does CICC operate?
CICC operates across investment banking, equities, fixed income (FICC), asset management, private equity investment, wealth management and research, through onshore branches across mainland China and overseas offices in Hong Kong, New York, London, Singapore, Frankfurt, Tokyo, Vietnam and Dubai.
What was CICC's financial performance in 2025?
CICC reported 2025 full-year operating revenue of approximately RMB 28.5 billion (up around 33.5% year on year) and net profit attributable to shareholders of approximately RMB 9.8 billion (up around 72% year on year).
Is CICC involved in any pending merger?
Yes. On 17 December 2025, CICC entered into a merger agreement to absorb Dongxing Securities Co., Ltd. (SSE: 601198) and Cinda Securities Co., Ltd. (SSE: 601059) via a share-for-share exchange; the deal remained subject to shareholder and regulatory approval as of the information date and had not completed.
Does the CICC registration number on file match public records?
The registry snapshot on file for CICC does not list a registration number or website. Cross-referencing China's enterprise credit system and an official Shanghai Stock Exchange bond filing confirms a Unified Social Credit Code of 91110000625909986U at the same Beijing address already on file, supporting the identity match.