Overseas income increased by 76%, CICC Wealth continues to expand its Hong Kong team.

On September 11th, Wang Jianli, member of the Board of Directors of CITIC Securities and President of CITIC Wealth, stated that the overseas business expansion was already underway ahead of the strategic planning, and in the future, there will be further expansion of talent reserves and an increase in digital construction. In the next 2-3 years, Hong Kong, China is expected to become the world's largest cross-border wealth management center, with Chinese financial institutions also targeting this development opportunity and increasing their layout in wealth management business. CITIC's level of internationalization is among the leading positions in Chinese securities firms. According to the semi-annual report, in the first half of this year, CITIC Securities' overseas business revenue increased by 75.66% year-on-year, and operating profit margin also increased by 24.16 percentage points, with overseas revenue accounting for 31.37%. Diao Zhihai, head of CITIC Securities' international wealth management business, stated that CITIC's wealth management team in Hong Kong has expanded from just over 30 people 7 years ago to now over 150 people, including 70 client managers.