China’s CICC eyes Southeast Asia expansion in bid to ease domestic woes

SINGAPORE/HONG KONG, July 4 (Reuters) – China International Capital Corp (CICC) (3908.HK), opens new tab plans to expand its presence in Southeast Asia by opening offices in countries including Indonesia and Malaysia, said its investment banking head, as a slump in deals at home hurts its prospects.

Founded in 1995, the Beijing-based investment bank currently has a presence in seven international financial centers outside of mainland China, including in Hong Kong, New York, London and Singapore.

State-owned CICC opened a representative office in Vietnam in June, extending its presence in Southeast Asia, home to several fast growing economies.