According to Snowball.com, this association on the Internet is very happy and stream of consciousness for retail investors. First of all, it equates CITIC Construction Investment with CITIC Securities, which has always been called the big bear. In fact, there is no intersection between CITIC Jiantou and CITIC Securities. CITIC Securities and CITIC Construction Investment are two completely different companies.

CITIC Securities is a big bear because CITIC Futures is the biggest short holder, but the basic common sense is that futures companies are only brokerage business, not proprietary trading.