CITIC Securities announced that the China Securities Regulatory Commission has approved its transfer of 51% interest in its wholly-owned subsidiary, China Asset Management Co., Ltd. (China AMC), to Southern Industrial Assets Management Co. Ltd., Shandong Province Rural Economic Development and Investment Company, Power Corporation of Canada, SITC Maritime Group Co. Ltd. and Wuxi Guolian Development (Group) Co. Ltd.

Upon completion of the change in its shareholding structure, China AMC will no longer be consolidated in the accounts of CITIC Securities.

Source:chinesestock.org