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CITIC, or the China International Trust Investment Corporation, is one of China’s largest state-owned conglomerates. Founded in 1979, the company has grown to become one of the key players in China’s financial and industrial sectors. It has a diverse range of interests that encompass banking, real estate, energy, infrastructure, and more.

CITIC’s business operations include CITIC Bank, CITIC Securities, CITIC Trust, CITIC Heavy Industries, CITIC Telecom, and CITIC Resources, among others. The company has a significant presence in the global market, with offices and subsidiaries across Asia, Europe, Africa, and the Americas.

History of CITIC

CITIC’s history can be traced back to 1979 when the Chinese government decided to establish a domestic and international investment company. The aim was to promote economic growth and the internationalization of China’s economy by attracting foreign investment and technology. In March 1979, CITIC was established as the first international trust and investment corporation in China with an initial registered capital of US$1.5 billion.

Over the years, CITIC has undergone significant changes and restructuring. In 2007, the company was restructured and formally renamed as China International Trust Investment Corporation. Today, the company is divided into six main business segments: financial services, resources and energy, manufacturing, engineering contracting, real estate, and other businesses.

CITIC’s Business Structure

CITIC’s business structure is organized into six main business segments:

• Financial Services: This includes CITIC Bank, CITIC Trust, CITIC Securities, and CITIC Prudential Life Insurance.
• Resources and Energy: This includes CITIC Mining, CITIC Metal, and CITIC Resources.
• Manufacturing: This includes CITIC Heavy Industries, CITIC Dicastal, and CITIC Pacific Special Steel.
• Engineering Contracting: This includes CITIC Construction, CITIC Envirotech, and CITIC Engineering.
• Real Estate: This includes CITIC Guoan, CITIC Pacific Properties, and CITIC Capital Real Estate.
• Other Businesses: This includes CITIC Telecom, CITIC Limited, and CITIC Agriculture.

CITIC’s Global Presence

CITIC has a significant presence in the global market, with offices and subsidiaries across Asia, Europe, Africa, and the Americas. The company operates in over 100 countries and regions and has over 80,000 employees worldwide. Some of its notable international investments included stakes in Australian mining firm, Alumina Limited and Hong Kong-based Dah Chong Hong Holdings Limited.

CITIC’s Future Plans

CITIC’s future plans are focused on expanding its global reach while continuing to innovate and develop new technologies. The company aims to become a leader in areas such as Fintech, digital innovation, and smart city development. It also plans to increase investment in its core businesses while exploring new growth opportunities.

CITIC has come a long way since its inception, and it continues to play a significant role in China’s economic growth and global development. Its diversified business structure, global reach, and commitment to innovation have helped the company navigate the challenges and opportunities of the changing business landscape.