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'Goldman Sachs of China' finds itself in Beijing's cross hairs

Govt looks into failure to stem a market fall that wiped out US$5 trillion in stock gains

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Published Sun, Sep 20, 2015 · 09:50 PM

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    Hong Kong

    WITH its market dominance, banking talent, global ambition and sterling political connections, Citic Securities fancied itself the Goldman Sachs of China.

    Citic Securities, the brokerage arm of the biggest state-owned financial conglomerate, rode China's stock market boom and a surge in corporate borrowing. The company's stock price tripled in six months.

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