(Beijing Comprehensive News) After Kaisheng Rongying's business was accused of leaking national security information, China's investment banks with a state -owned background have suspended the company's consulting services, causing the financial community to worry about the official expansion of the national security review.
Reuters on Wednesday (May 10) quoted three people familiar with the matter and said that CICC Capital, a subsidiary of China International Financial Co., Ltd. (CICC), has stopped using Kaisheng Rongying's services.
It is reported that the research department of CICC Capital issued an internal memorandum on Tuesday (May 9) to prohibit all teams from using Kaisheng Rongying to conduct due diligence and other inquiry services.Kaisheng's transaction.The above ban will take effect immediately.
China ’s national security department has recently launched an assault investigation on Kaisheng Rongying's offices in many places in China, stating that the company’ s experts in foreign consultation business are suspected of leaking national secrets.
Kaisheng Rongying is a leading Chinese consulting company. Customers include China's leading securities companies, private equity investment and venture capital companies.
As of the end of 2022, CICC's capital management reached 360 billion yuan (about S $ 69 billion).The largest shareholder of its parent company, CICC, is the central government, and the latter is a wholly -owned subsidiary of CICC, a large state -owned enterprise.
Reuters reports that CICC Capital's disable Kaisheng's service allows more financial industry to be eager to understand whether Chinese officials will expand the scope of review and spread more consulting companies and customers.
Zhongjin Company was one of the underwriters listed in Hong Kong last year. However, Kaisheng failed to go public due to frequent changes in equity and excessive revenue from expert interviews.
