HONG KONG, March 24 CITIC Securities Co Ltd
, China's biggest brokerage, plans to boost
its revenue from overseas operations to 30 percent of total in
the next five years, from 10 percent now, the head of its
overseas business said on Friday.
The Chinese brokerage also plans to cut operating costs of
its overseas business by 25-30 percent, Tang Zhenyi, the
chairman of CITIC Securities' unit CLSA, told reporters.
CITIC Securities is also looking to acquire advisory assets
in the United States and a deal could be announced by the end of
this year, CLSA Chief Executive Jonathan Slone said.
(Reporting by Julie Zhu; Editing by Himani Sarkar)