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China ABS Awards

Best firm for securitization 2020

CICC

Competition for this year’s best house for securitization was fierce. Despite the Covid-19 pandemic, new issuance in China’s ABS market still rose 16.1% to Rmb2.585 trillion ($396 billion) during Asiamoney’s awards period, between October 2019 and the end of September 2020, Wind data shows.

Established players such as Citic Securities, China Merchants Securities and Ping An Securities have largely maintained the leading position in their asset types. But China International Capital Corp (CICC) stood out from all the rest thanks to its impressive innovation, aggressive expansion and ability to edge up the league table even in a market with cut-throat competition.

During the awards period, CICC underwrote 207 securitization deals with a total value of Rmb220.3 billion, split between the interbank and exchange markets, Wind data shows. That’s a 52.2% surge in the number of deals and a 44.5% jump in underwriting value from the previous awards period. As a comparison, new issuance volume increased only 16.1% market-wide in the same period. CICC’s ABS team, led by Jia Zhouqi and Li Zhiming, now ranks second in the league table, up from third place the previous year.

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