China Investment Bank Bans Bearish Research, Displays of Wealth
- CICC asks analysts to avoid negative macro, market commentary
- Bankers also discouraged from showing off their wealth: memo
One of China’s largest investment banks has warned its analysts against making any bearish calls and to avoid showing off their lavish lifestyle, as Beijing continues to clamp down on well-paid bankers.
Analysts at China International Capital Corp. are barred from sharing negative comments about the economy or markets in both public and private discussions, according to an internal memo sent to the research department this month and seen by Bloomberg News. Employees should also avoid wearing luxury brands or revealing their compensation to third parties, the memo said.
