The CITIC Group (Chinese: 中国中信集团公司, Zhōngguó Zhōngxìn Jítuán Gōngsī), formerly the China International Trust and Investment Corporation, is a state-owned investment company of the People's Republic of China, established by Rong Yiren (榮毅仁) in 1979 with the approval of Deng Xiaoping. Its headquarters are in Chaoyang District, Beijing.
Its initial aim was to "attract and utilize foreign capital, introduce advanced technologies, and adopt advanced a...
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The CITIC Group (Chinese: 中国中信集团公司, Zhōngguó Zhōngxìn Jítuán Gōngsī), formerly the China International Trust and Investment Corporation, is a state-owned investment company of the People's Republic of China, established by Rong Yiren (榮毅仁) in 1979 with the approval of Deng Xiaoping. Its headquarters are in Chaoyang District, Beijing.
Its initial aim was to "attract and utilize foreign capital, introduce advanced technologies, and adopt advanced and scientific international practice in operation and management." It now owns 44 subsidiaries including China CITIC Bank, CITIC Holdings, CITIC Trust Co. and CITIC Merchant Co., Ltd (mainly banks) in China, Hong Kong, the United States, Canada, Australia and New Zealand.
CITIC Group is considering a $12 billion listing in Hong Kong.
The founder of CITIC, Rong Yiren, is the son of one of the richest businessmen in China in the 1930s, Rong Desheng (榮德生). He was also one of the few capitalists who stayed in mainland China after 1949. Rong Yiren...
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