CITIC Securities is committed to sustainable economic growth and recognizes the important role of the financial sector for this end. We take the initiatives to make responsible investment and issue green bond in support of sustainable economic society.

Over the years, the concept of responsible investment is becoming increasingly popular in capital markets, as environmental and social issues are gaining increasingly attention. As a leader in domestic securities industry, CITIC Securities is committed to promoting and implementing the concept of responsible investment, and actively assumes responsibilities for the nation, the society and the natural environment.

Green financing aims at promoting the green development of real economy by means of finance, which has important economic, social and environmental effects. Following the National Carbon Neutralization goal, CITIC Securities actively supports green industry projects and assists a number of financial and non-financial enterprises to carry out green equity financing projects.

In 2020, CITIC Securities supported environmental protection technology enterprises and new energy enterprises to raise RMB 22.95 billion through green equity financing. The funds were all used for green industrial projects in accordance with laws and regulations and the approval from regulatory authorities. We assisted a number of enterprises in issuing green bonds with a total of RMB 7.8 billion for financing and leasing funds of green projects, hydropower project construction, and business development in green industry. We issued a total of RMB 4.75 billion of green asset-backed securities, and all of the projects were certified by green certification institutions.

CITIC Securities research department carried out research on responsible investment. By studying the impact of enterprises on the environment, social responsibility performance and corporate governance, the research department provides corresponding suggestions for investors and other participants in the capital market, and listed companies to make investment decisions, and helps them avoid ESG risks and obtain long-term sustainable investment returns. We released a series of articles entitled Panorama of Carbon Neutralization to provide guidance and suggestions for capital market participants from the aspects of carbon neutralization path, industry outlook and risk analysis, in response to the national pledge of peaking carbon emissions in 2030 and achieving carbon neutral in 2060.

In 2020, CITIC Securities won its second “China ESG Golden Award - Best Securities Company for Responsible Investment”. China AMC, a subsidiary of CITIC Securities, is one of the first among China’s fund management companies approved by the CSRC, and has made significant achievements in responsible investment.
Responsible Investment of China AMC
Management Framework

As a public fund company and an UN PRI Signatory, China AMC owns a robust ESG risk management framework, a designated investment research team and ESG Business Committee chaired by the general manager. The Committee consisting of heads of investment, sales, product and risk control departments convenes regularly to decide development goals and detailed plans of responsible investment.


IT Committee Investment Committe ESG Committe Risk Management

Risk Investment Sales Product Marketing

  • Equity
  • Fixed income
  • Quantitative

Portfolio managers:decide stock selection and positions based on internal ESG research and ESG risk alerts.

Sector analysts:take sustainability into considerations during fundamental research(ESG opportunities and challenges).

ESG analysts:conduct ESG research, score stocks with in-house ESG evaluation framework, monitor ESG risks for stocks, and enagage with listed companies on ESG issues.

At the end of the reporting period, China AMC had incorporated ESG concepts into investment of over RMB 40 billion of actively managed equity funds.

  • China AMC became the first public fund company in China signing UN PRI in March 2017.
  • China AMC devotes itself to apply the six Principles for Responsible Investment and systematically incorporates SEG issues into investment processes.
  • China AMC is the first Chinese asset management institution joining Climate Action 100+ and aspires to facilitate interaction with listed companies in China and disseminate knowledge in relation to climate issues and sustainable development.
  • China AMC, as the first Chinese asset management institution joining CA100+ Asia Advisory Group, takes active part in formulating CA100+ strategies targeting Asia.
  • China AMC is a proponent of TCFD under Financial Stability Board, which facilitates climate-related disclosures with the aid of the internationally-recognized framework.
  • China AMC was honored as “China ESG Golden Award - Best Fund Management Company for Responsible Investment” in 2019 and 2020.

In 2020, China AMC was among the first in China’s asset management companies to be awarded the top score “A+” in the section of “Strategy and Governance” in the annual PRI signatory assessment, for its practice in responsible investment system.

Investment Policies

China AMC has a sophisticated ESG investment research processes with consideration to significant ESG risks. The Responsible Investment System of China Asset Management Co., Ltd. and ESG Communication System of China Asset Management Co., Ltd. are in place to advice the Company and employees on responsible investment practice.

China AMC is the first to directly include the ESG research team in the investment department and actively applies 6 ESG investment processes of strategy formulation, fundamental analysis, portfolio management, risk control, dialogue with listed companies, and portfolio monitoring and reporting, for the purpose of proper control over ESG risks and long-term returns.

Backed by international mainstream ESG evaluation systems, the ESG research team of China AMC has developed a set of ESG fundamental analysis framework applicable to the domestic market, with reference to features of Chinese public companies. The risk control department has constructed an internal negative information screening system across the Company to identify and warn of ESG risks of investing the underlying in a timely manner by virtue of capture and filtering of key words. On a quarterly basis, ESG researchers report ESG risk exposure of portfolios to respective fund managers, drawing their attention to adjust position size or follow up the reported risks. Also, the ESG team makes in-depth exchanges with over 20 major public companies on ESG practice, where all reported positive results and some got a higher third-party ESG rating.

  • 1、Investment Strategy

  • 6、Monitoring and Reporting

    2、Fundamental Analysis

  • 5、Active Engagement

    3、Portfolio Management

  • 4、Risk Management




ESG Fund Products

In 2020, an ESG UCITS fund managed by China AMC was launched in Luxembourg and the Netherlands, which was the first of its kind worldwide targeting China’s equity market. The fund is the inaugural ESG-integrated UCITS product managed by Chinese fund management companies, targeting companies with leading position, ongoing cash flows, higher valuation level, sound corporate governance, responsible business mode and large market value, as at 31 December 2020, the yield of the fund since its foundation registered 87.92%, way beyond the benchmark index yield of 31.87%, while the MSCI ESG rating of the fund was BB, a level higher than that of the benchmark index.

In addition, China AMC issued two ESG public funds targeting the new energy industry chain, i.e. China AMC Energy Innovation Equity Fund and China AMC Energy Saving and Environmental Protection Equity Fund, with cumulative returns of 189.70% and 117.14% and annualized rate of return of 34.22% and 25.32% respectively. As at 31 December 2020, China AMC offered CSI New Energy Vehicles Index ETF tracking CSI Index with a cumulative return since its foundation of 71.39% and an annualized return of 81.14%.