China’s CICC Hopes Successful IPO Will Fuel Growth
The investment bank’s profits are up, but its reliance on state-owned companies has cost it some lucrative business.
Allen T Cheng
December 17, 2025
A China International Capital Corp. (CICC) branch stands in Beijing, China, on Wednesday, Feb. 24, 2010. TPG Capital LLP and Kohlberg Kravis Roberts & Co. are in final talks to buy Morgan Stanley’s stake in China International Capital Corp., the first Sino-foreign investment bank, for more than $1 billion, said four people with knowledge the matter. Photographer: Nelson Ching/Bloomberg
Nelson Ching/Bloomberg
