(Yicai Global) July 05 -- China International Capital, one of the country's largest investment banks, has become the first Chinese member of the Frankfurt Stock Exchange to increase its cross-border services.

CICC has also become the first Chinese-funded investment bank that has joined stock exchanges in the United Kingdom, Switzerland, and Germany via bourse connectivity mechanisms, which will guarantee its cross-border services in China and Europe without any obstacles, China Securities Journal reported today, citing Xia Xinghan, chief executive of CICC UK.

The move is enabled by enlarging frameworks. In February, China's main securities regulator added two major European markets in Switzerland and Germany to its connectivity scheme so that qualified companies listed on the Shanghai Stock Exchange and the Shenzhen Stock Exchange can apply to issue global depository receipts in these countries.

Founded in 1995, CICC is an industry pioneer. Last year, it was No. 1 in China in terms of issuances of overseas equity and bonds, according to the firm's earnings report. CICC's international business made up a quarter of its total revenue in 2021.

Germany's FSE is one of the world’s major stock exchanges. More than 11,000 companies from more than 130 countries and over 1,000 exchange-traded funds are listed on the FSE.

The news received a modest welcome. CICC’s Shanghai-listed stock price [SHA:601995] rose 1.5 percent to CNY44.7 (USD6.70) as of lunch break.

Editor: Emmi Laine, Xiao Yi