BUSINESS

CICC Picks Company Veteran as New President

Published: Sep. 1, 2025 7:21 p.m. GMT+8

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Investment banking giant China International Capital Corp. Ltd. (CICC) has chosen 27-year company veteran Wang Shuguang as its new president.

The appointment was announced Friday, according to a filing published on the Shanghai Stock Exchange.

The 50-year-old Wang joined CICC in 1998 — three years after its establishment. During the nearly three decades at CICC, he has worked on numerous IPOs, refinancing deals, and mergers and acquisitions (M&A) that spanned the Chinese mainland, Hong Kong, and U.S. markets.

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CICC appointed Wang Shuguang, a 27-year company veteran, as its new president at age 50.
Wang expanded CICC's client base to include private companies and startups, leading significant IPOs and M&A, including for BYD and Huawei.
CICC, founded in 1995 as China’s first Sino-foreign joint venture investment bank, was listed in Hong Kong in 2015 and Shanghai in 2020.

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Who’s Who

China International Capital Corp. Ltd.: China International Capital Corp. Ltd. (CICC) is an investment banking giant. Founded in 1995, it was China’s first Sino-foreign joint venture investment bank. CICC was established with Construction Bank and Morgan Stanley as key partners. It aims to assist Chinese companies with capital market operations and modern corporate governance. CICC went public in Hong Kong in 2015 and Shanghai in 2020. Wang Shuguang is its new president.

China Construction Bank Corp.: China Construction Bank Corp. was involved in a deal where its Hong Kong subsidiary was acquired by Bank of America Corp. Moreover, China Construction Bank (Construction Bank) was one of the initial strategic partners in the establishment of China International Capital Corp. Ltd. (CICC) in 1995.

Bank of America Corp.: Bank of America Corp. is mentioned in the article as having its Hong Kong subsidiary acquired by China Construction Bank Corp. This was one of the many deals that Wang Shuguang, the new president of CICC, worked on during his tenure.

Alibaba Group Holding Ltd.: Wang Shuguang, the new president of CICC, played a significant role in Alibaba Group Holding Ltd.'s listings. He worked on their listings in both the U.S. and Hong Kong markets during his tenure at CICC, where he spent nearly three decades.

BYD Co. Ltd.: BYD Co. Ltd. (比亚迪股份有限公司) is a company that had its IPO and M&A handled by CICC's growth enterprise investment banking department. This department, established in 2011 and led by Wang Shuguang, focused on high-tech and strategic emerging industries following the launch of China's ChiNext board in 2009.

Huawei Technologies Co. Ltd.: Huawei Technologies Co. Ltd. is a private company that benefited from the expertise of Wang Shuguang during his tenure at CICC. Under Wang's leadership, CICC's growth enterprise department handled Huawei's initial public offerings (IPOs) and mergers and acquisitions (M&A) deals. This indicates Huawei's engagement with CICC for its capital market operations.

Morgan Stanley: Morgan Stanley was a strategic partner in the establishment of China International Capital Corp. Ltd. (CICC) in 1995, forming China's first Sino-foreign joint venture investment bank. They were among the initial investors, with CICC's registered capital being $100 million. However, Morgan Stanley sold its entire stake in CICC in 2010.

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