Capital Markets Department (CMD) is CICC’s domestic and international financing product specialist. Based on its thorough knowledge and in-depth analysis of capital markets, CMD provides IBD and its clients timely market intelligence, judgment on offering windows, and sound professional advice on a broad range of products to facilitate decision-making on key corporate finance issues. These include structuring, valuation, and marketing of both domestic and international equity, equity linked and debt offerings. Through a network of professionals based in Beijing and Hong Kong, CMD has extensive experience in providing cross-market and cross-product expertise to help clients achieve both short and long-term financing objectives.

CMD provides an important link between IBD and S&T departments to solicit and execute all of the firm’s equity-related and fixed-income underwriting business. CMD is responsible for capital market executions of CICC’s key IBD products-underwriting of equity and corporate debt offerings. Functions include assessing and controlling underwriting risk, designing offering structure, organizing syndicates, coordinating marketing activity, managing the book-building process, pricing and allocation, and managing deal economics. CMD has led capital market executions of all CICC’s landmark public offerings, helping the firm build a strong banking franchise.

CMD introduces international best practices into domestic financial markets and leads innovations in offering structure, product design, pricing, and allocation mechanism, promoting a market-based process for domestic equity and debt offerings.

● Introduce international best-practices of pre-marketing, road-show, and book-building into the offering and pricing mechanism in domestic capital markets
●Pioneered A+H simultaneous offering, lead managed the only two A+H IPO to date: ICBC IPO in 2006 and Citic Bank IPO in 2007, with ICBC offering also being the largest IPO ever in global capital markets history.
● Promote product innovation such as asset-back securitization and derivatives in domestic capital markets by leveraging its deep understanding of capital markets.
● Encourage high-quality institutional investors to participate in market-based placements, supporting the growth of an institutional investor base in domestic capital markets.