The Big Take
China’s Investment Bankers Join the Communist Party as Morale (and Paychecks) Shrink
Once a symbol of Beijing’s ambitions in finance, CICC is fighting for its future.
It’s today’s hot credential at China’s premier investment bank: membership to the Chinese Communist Party.
One after another, bankers at China International Capital Corp. are pledging their loyalty to the party. Hundreds are promising to follow the CCP’s directives, guard its secrets and, per the official oath, “sacrifice my all for the party and the people.”