CITIC**: The metamorphosis from an investment bank leader to a market bearish leader
CITIC**, once known as the leader of domestic investment banks, is now criticized by the market. In 2023, 22 of the 30 companies sponsored by the institution will suffer a breakage, which undoubtedly casts a shadow on its investment banking business. What's more striking is that CITIC ** also holds up to 30,000 short orders of A-share stock index**, making it the largest short force in the A** market.
This shift can't help but be embarrassing. The operation method of CITIC ** seems to show a certain pathological phenomenon in the A** market: in the sponsorship of the listing business, the brokerage overly pursues short-term interests, and obtains huge returns by packaging and pushing up the issue price. However, this short-sighted behavior often leads to uneven quality of listed companies and sharp fluctuations in stock prices, which ultimately damages the interests of the majority of investors.
The remarks of the chairman of CICC revealed a certain unspoken rule in the industry: in the eyes of brokers, listed companies are their "gods", while ** shareholders are relatively secondary. This distorted value further exacerbates the imbalance and unfairness of the market.
Although the salaries of employees of brokerages such as CITIC** are already considerable, there may still be room for improvement compared to their earning power. However, this improvement should never be built at the expense of market fairness and investor interests. On the contrary, brokerages should pay more attention to improving service quality and professionalism to provide investors with more stable and sustainable investment returns.
Therefore, while calling for salary increases for brokerage employees, we should pay more attention to the quality of their business and market responsibility. Only when brokerages truly put the interests of investors first and are committed to improving market transparency and fairness, can the A** market achieve healthy and sustainable development. In this process, the strict supervision of regulators and the rational choice of investors are also indispensable.