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©pixabay.com
©pixabay.com
19/07/2018

Chinese investment bank CICC begins investing at the financial center of Frankfurt

China International Capital Corporation Limited (CICC, stock code: 3908 HK) has chosen the financial center of Frankfurt to host its continental European headquarters. The Beijing-based investment bank, which secured a listing on the Hong Kong Stock Exchange in 2015, joins the ranks of more than 24 banks that made the decision to relocate at least some of its operations to Frankfurt since the Brexit referendum held just over two years ago.

“We are absolutely delighted that CICC has chosen Frankfurt as the home of its European operations,” explained Dr. Rainer Waldschmidt, CEO of Hessen Trade & Invest GmbH (HTAI). “The fact that the largest Chinese investment bank has now decided to establish operations in Frankfurt serves as a testament to the quality and appeal of this financial center extending far beyond the borders of Europe,” added Waldschmidt.

It was not long ago that the Chinese bank Essence Securities also ventured to settle in Frankfurt, a decision that (as was the case for CICC) was heavily influenced by the presence of the Frankfurt-based China Europe International Exchange (CEINEX) and one that certainly did not come as a surprise to CEINEX co-CEO Dr. CHEN Han.

“We came here because we are confident that Frankfurt will become the eurozone’s single leading financial center. Frankfurt serves as an ideal springboard for all Chinese financial institutions planning to establish operations in Europe or expand their market presence there,” explained Dr. CHEN. “We are glad to know that we helped convince an institution as important as CICC to establish operations in Frankfurt.”

 

China Europe International Exchange AG (CEINEX)

The Frankfurt am Main-based CEINEX constitutes a joint venture created by the Shanghai Stock Exchange, the Deutsche Börse Group, and the China Financial Futures Exchange. As the first-ever marketplace for Renminbi (RMB)-denominated and Chinese-related investment products outside of mainland China, CEINEX uniquely serves to bridge the gap between the Chinese and international financial markets. CEINEX provides reliable offshore RMB-denominated and Chinese-related financial instruments to investors for the purpose of fostering the internationalization of the RMB.



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