CITIC Securities is deepening its strategic footprint in the Guangdong-Hong Kong-Macao Greater Bay Area, with a focus on refining cross-border financial offerings. Chen Gang, a key leader in the firm’s wealth management division, emphasized the company's commitment to optimizing services that bridge domestic and international markets.

The Greater Bay Area, one of China’s most dynamic economic zones, has long been fertile ground for securities firms. In recent years, CITIC Securities has systematically expanded its operations across the region.

Chen Gang, a member of the Wealth Management Party Committee, Co-Director of the Wealth Management Committee, and Head of the Client Development Center at CITIC Securities, highlighted the firm’s strategic priorities. He stated that CITIC Securities will align closely with financial support policies for the Greater Bay Area, enhance coordination between domestic and international operations, strengthen compliance, risk control, and investor protection, and intensify efforts in cross-border investment, asset allocation, and financial innovation. The goal is to contribute significantly to establishing the Greater Bay Area as a world-class bay area and urban cluster.

**Deepening the Greater Bay Area Layout**

Since the comprehensive launch of the Greater Bay Area initiative following the 2017 framework agreement, CITIC Securities has fully implemented national strategic directives. The firm has pursued an all-encompassing and forward-looking layout focused on financial connectivity, high-quality development, and institutional openness, aiming to build a comprehensive financial platform that serves the bay area and connects globally.

A cornerstone of this strategy was the 2018 acquisition of Guangzhou Securities, completed in 2020 with the establishment of CITIC Securities South China Company Limited. This subsidiary specializes in wealth management in Southern China, leveraging a local network to provide brokerage, investment advisory, margin financing, and financial product distribution services to individuals and institutions, thereby enhancing service depth and efficiency.

Globally, the firm uses Hong Kong as an international bridgehead, coordinating resources and teams to offer integrated solutions in securities, funds, futures, foreign exchange, and commodities. This supports bay area companies expanding abroad and facilitates the inflow of international capital. In 2025, CITIC Securities' Hong Kong subsidiary acted as sponsor for 33 out of 116 Hong Kong IPOs, capturing a 28.4% market share. The firm also assisted China's Ministry of Finance in issuing RMB 6 billion sovereign bonds in Macao, supporting the internationalization of the Renminbi.

Seizing opportunities from market connectivity initiatives, CITIC Securities South China obtained approval in November 2024 to participate in the "Cross-Border Wealth Management Connect" pilot scheme. Operating under strict regulatory frameworks, it provides bay area residents with compliant, diversified, and risk-controlled cross-border asset allocation options.

Digitally, the establishment of the Online Finance Division (Shenzhen) in 2025 focuses on online retail finance in the bay area. By integrating brand strength, technological advantages, and local resources, the firm enhances customer acquisition, loyalty, and cost efficiency, creating an integrated online-offline, domestic-international service matrix.

**Future Opportunities and Strategic Alignment**

Looking ahead, the Greater Bay Area wealth management market presents significant opportunities alongside challenges. Key opportunities include the continued vitality of the Hong Kong market, with 2025 IPO fundraising exceeding HKD 180 billion, and rapidly growing demand for cross-border wealth management solutions.

Challenges involve navigating differing regulatory rules between mainland China and Hong Kong across market systems, supervision, product access, and investor suitability, demanding heightened compliance and risk management from financial institutions.

CITIC Securities plans to anchor its strategy to these opportunities by deepening services for companies listing in Hong Kong and upgrading global wealth management capabilities. Using Hong Kong as a hub, the firm will integrate research, products, and channels to offer a comprehensive suite of cross-border services while maintaining strict compliance and investor protection.

**Addressing Unique Client Needs**

The unique "one country, two systems, three tariff zones" framework of the Greater Bay Area shapes distinct client demands characterized by cross-border, diversified, professional, and international features. Clients show a stronger appetite for global asset allocation, higher acceptance of cross-border financial instruments and innovative products, and a demand for comprehensive, professional one-stop跨境 services.

**Investor Education Initiatives**

Responding to the need for cross-border investment knowledge, CITIC Securities conducts multi-channel investor education. Offline events like the "CITIC Connects Hong Kong Stock Connect" series in 12 cities, in partnership with Hong Kong Exchanges, provide immersive experiences. Online efforts use official platforms to disseminate information on popular topics. Community and campus activities promote financial literacy and fraud prevention. These initiatives have improved investor understanding of connectivity mechanisms and market rules, fostering a healthier investment ecosystem.

**Advancing Cross-Border Products and Services**

Since late 2023, against a backdrop of lower domestic risk-free rates, demand for diversified asset allocation has risen. CITIC Securities has responded by building a comprehensive cross-border product framework with global asset managers, covering both public and private offerings.

In public funds, the firm distributes products tracking major overseas market indices. In private offerings, it covers various fixed-income strategies and hybrid products. For the Cross-Border Wealth Management Connect, CITIC Securities South China, in collaboration with CITIC Securities Wealth Management (Hong Kong), offers a selection of compliant funds. Since its launch, the firm has captured nearly 10% of new pilot scheme customers and over 20% of fund remittance volume, demonstrating strong market competitiveness.

**Deepening the Buyer-Agent Advisory Model**

In alignment with regulatory guidance to enhance wealth management services and strengthen investor interests, CITIC Securities is committed to a client-centric approach. The firm has built an integrated service system covering transaction financing, wealth management, and comprehensive services.

Since 2017, the firm has actively developed a buyer-agent advisory model, with assets under this model exceeding RMB 130 billion. This is supported by a "dual separation" mechanism isolating asset introduction and sales teams, ensuring client interests are prioritized. The firm offers a spectrum of over 30 tailored solutions across different risk profiles, designed to help clients achieve steady wealth preservation and growth.

Moving forward, CITIC Securities will continue to refine its buyer-agent services, strengthen investor alignment, and contribute to the high-quality development of capital markets by meeting resident wealth management needs and encouraging long-term investment.