When the great and the good gathered earlier this year in Beijing to celebrate the 10th anniversary of CICC China International Capital Corporation, the atmosphere was a mixture of satisfaction and apprehension. The satisfaction came from the company's rapid growth over the past 10 years, and the apprehension is rooted in the challenges that CICC is facing as China's investment banking and capital markets landscape changes ever more drastically.
CICC was created to ensure a Chinese investment banking presence in the first round of partial government privatizations. The company first made its mark on the 1997 China Telecom deal and has since raised over $47 billion in equity financing and...
