China International Capital Corp (CICC) plans to absorb two smaller brokerages to create a new entity worth 1 trillion yuan (US$140 billion) in assets, as a state-led consolidation gathers pace to meet Beijing's goal of creating investment banks that can compete with the likes of Goldman Sachs. CICC would take over Dongxing Securities and Cinda Securities through stock swaps with the shareholders of the two peers, it said in an exchange statement on Wednesday night, without giving details. Shares of the t ...