Because it is difficult to list on the A-share market.

"There is also a reason why CITIC chose to go public in Hong Kong.

According to experts, since the A-share market does not allow secondary listing, at present, CITIC's A-share listed companies include citic guoan, CITIC Bank, CITIC Securities and CITIC Haizhi. If CITIC Group wants to list on A-shares as a whole, it needs to make a tender offer for these four companies and delist from the market before the parent company can go public, while the management in this respect in the Hong Kong market is much looser.

Extended information

On August 25th, 214, CITIC Pacific Limited (267.HK) announced that it had completed the acquisition of 1% equity of CITIC Limited (now renamed as "China CITIC Limited"), the main business platform of China CITIC Group Corporation.

on August 27th, CITIC Pacific was renamed as "China CITIC LIMITED" (hereinafter referred to as "New CITIC"). From September 1st, the company will start stock trading under this name. So far, as a new example of state-owned enterprise reform and highly concerned by domestic and foreign markets, CITIC's overall overseas listing has been successfully concluded.

Source of reference: China Net-CITIC Co., Ltd. completed the overall listing as the largest transaction in Hong Kong

Source of reference: China Net-CITIC Group started to prepare the restructuring plan or go to Hong Kong for the overall listing next year.