CSC Financial
CSC Financial Co., Ltd. trading as China Securities, is a Chinese investment bank and brokerage firm established by CITIC Securities and China Jianyin Investment in 2005 in a 60–40 ratio, as a successor of bankrupted China Securities Co., Ltd. (CSC). However, the firm now majority owned by Jianyin Investment's parent company Central Huijin Investment and an asset managing subsidiary of Beijing Municipal People's Government. The company registered in Hong Kong as a foreign incorporated company as China Securities Finance Co., Ltd. on 28 July 2016 and CSC Financial Co., Ltd. on 20 October, the latter was used in the IPO of CSC's H share. An unrelated company registered the name China Securities Co., Ltd. in Hong Kong in 2014 in order to prospecting the chance that CSC bought back the name. The unrelated company was filed for struck off for dormant (and would be dissolved) by Hong Kong's Companies Register using the power of Chapter 622 Section 745 2.(b) of Hong Kong Law in September 2016. History [old] China Securities Co., Ltd. (1992–2005) The predecessor of CSC Financial Co., Ltd. was incorporated in 1992 as China Securities Co., Ltd. (CSC) (). Huaxia Securities established a subsidiary in Hong Kong as China Securities (International) Limited in 1994 (the stake was at first held by Huaxia Securities' chairman Shao Chun () and CEO Deng Xi () as proxies; China Securities (International) became dormant since 2010). As at 31 December 2004, state-owned enterprise Beijing State-owned Assets Management Co., Ltd. owned 29.82% stake of Huaxia Securities. The enterprise, which was a subsidiary of Beijing Municipal People's Government, also owned 33.87% stake of Beijing Securities, 20.07% stake of the Bank of Beijing, 46.67% stake of Beijing International Trust, 40.725% stake of China Asset Management () and the predecessor of insurance company Old Mutual – Guodian for 50.00% stake, making the enterprise owned several financial and non-financial associate companies as a mega conglomerate. However, Hua Xia Bank, was partially owned by Shougang Corporation (a direct subsidiary of State-owned Assets Supervision and Administration Commission (SASAC) of Beijing Municipal Government at that time) for 14.29% and other companies instead. However, after several scandal which the staff illegally made investment without the consent of their client, Huaxia Securities went bankrupted (as in 2016 the firm was still being liquidated). [new] China Securities Co., Ltd. (2005–) A new firm with the same English trading name China Securities but different Chinese name () was established by CITIC Securities and China Jianyin Investment in 2005 and receiving the client from the old firm, but did not bear any legal responsibility of the old firm. In 2010, as CITIC Securities also had their own license, CITIC Securities was requested by China Securities Regulatory Commission to sell all but one subsidiary, including China Securities Co., Ltd. (CITIC Securities was allowed to keep at most kept 7% stake of CSC; CITIC Securities (Shandong) was kept as subsidiary, Kington Securities was put on the market), which 45% stake was acquired by Beijing State-owned Capital Operation and