CITIC
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| CITIC 中国中信集团公司 |
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| Type | State-owned enterprise |
| Founded | 1979 |
| Headquarters |  Beijing, China |
| Area served | People's Republic of China |
| Key people | Kong Dan (Chairman) |
| Industry | Finance |
| Website | citic.com |
The CITIC Group (中国中信集团公司), formerly the China International Trust and Investment Company, 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 initial aim was to "attract and utilize foreign capital, introduce advanced technologies, and adopt advanced and scientific international practice in operation and management." [1] It now owns 44 subsidiaries (mainly banks) in China, Hong Kong, the United States, Canada, Australia and New Zealand.
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 that stayed in mainland China after 1949. Rong Yiren later became the vice-president of the People's Republic of China in 1993, and stepped down in 1997.
CITIC Group is 中国中信集团公司 in Chinese, while CITIC Pacific is 中信泰富 in Chinese, which is a subsidiary of CITIC.
[edit] See also
- CITIC International Financial Holdings Limited
- CITIC Securities
- China CITIC Bank
- CITIC Pacific, a subsidiary of CITIC group in Hong Kong
- CITIC Plaza, a skyscraper in Guangzhou, PRC
- CITIC Ka Wah Bank
- CITIC Resources
[edit] External links
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