Zhao Jingwen was sentenced to 18 years in prison and fined CNY 3.2 million for embezzlement and receiving CNY 5.5 million in bribes.
September 24, 2021Huarong will issue new shares to Citic Group, China Insurance Investment, China Life Asset Management, China Cinda Asset Management and Sino-Ocean Capital Holding.
August 19, 2021The conviction is said to be linked to a criminal case involving the head of a Citic Group asset management subsidiary.
September 27, 2020A merger between Citic Securities and CSC Financial would create a $67bn investment bank, surpassing the market cao of most other foreign competitors.
April 14, 2020Jiantou Citic Asset Management will transition into a financial asset management company, making it the first new national distressed debt manager authorised since 1999.
March 18, 2020Under the agreement, the December timeline for China's removal of foreign ownership limits in the securities sector is brought forward to April.
January 16, 2020Companies like Ant Financial, Citic Group and China Everbright Group may for the first time be required to obtain licences and meet capital requirements, reported Bloomberg.
May 9, 2018