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CICC to Acquire Majority Stake in KraneShares

China's leading investment banking and financial services firms, announced today the signing of a definitive agreement to acquire a majority stake in Krane Funds Advisors, LLC, ("KraneShares") a U.S. asset management firm best known for its China focused KraneShares exchange traded funds (ETFs) and innovative China investment strategies. The strategic acquisition combines CICC's extensive global research, investment and wealth management platforms with KraneShares' ETF expertise.

CICC, founded in 1995 by China Construction Bank and Morgan Stanley, was the first investment bank formed through a China-US joint venture1. Today, CICC serves corporate, institutional, government, and wealth management clients in China. With deep roots and a thorough understanding of the Chinese economy, CICC is a leading financial service provider to global clients. CICC's global shareholders include CIC, the China Sovereign Wealth Fund, GIC, a Singapore Sovereign Wealth Fund, and two global private equity firms: TPG and KKR. CICC is a public company listed on the Hong Kong Stock Exchange (3908).

"We are a Chinese investment bank with unique international DNA," said Mr. Mingjian Bi, Acting Chairman and Chief Executive Officer of CICC. "Our entry into the U.S. asset management and ETF industry with KraneShares' platform represents a remarkable opportunity for us to provide high quality investment products and services to our clients, including individuals, advisors, and institutions, domestically and overseas. We are excited to have this opportunity to significantly grow KraneShares and the CICC business in the United States and globally."

Among its ETF offerings, KraneShares has established a dominant market leadership position in the China Internet sector with KraneShares CSI China Internet ETF (KWEB), which holds some of the most innovative global technology companies including Alibaba, Baidu, and Tencent2.

Additionally, KraneShares is a leading provider of financial products and education focused on accessing China's equity and fixed income markets. KraneShares was the first to issue an MSCI-linked China A share...


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