China CITIC Group Corporation (CITIC Group in English) is a company founded by former Vice President Rong Yiren on October 4, 1979, after being personally advocated and approved by Deng Xiaoping, the chief architect of reform and opening up. Its main business focuses on finance, industry and other service industries.
CITIC Group was founded in 1979 by Mr. Rong Yiren under the initiative and support of Mr. Deng Xiaoping. Since its establishment, CITIC Group has explored and innovated in many fields, successfully opened up a path of innovative development through the absorption and application of foreign capital, the introduction of advanced technology, equipment and management experience for the purpose of reform, opening-up and modernization, and has built up a good image both at home and abroad, and achieved remarkable business results.
CITIC Group has now developed into a large-scale comprehensive multinational enterprise group that specializes in both finance and industry. Among them, finance involves banking, securities, trust, insurance, funds, asset management and other industries and fields; industry involves real estate, engineering contracting, resources and energy, infrastructure, machinery manufacturing, information industry and other industries and fields, with strong comprehensive advantages and good momentum of development.
By the end of 2012, CITIC Group had total assets of RMB 3,565.7 billion and net assets of RMB 235.5 billion, with annual revenue of RMB 349.8 billion and net profit of RMB 30.16 billion. it has been ranked among Fortune 500 companies for three consecutive years since 2009, and was ranked 172nd in 2013. In 2013, it ranked 172nd.
The subsidiaries of CITIC Group are as follows:
1. Financial Subsidiaries
CITIC Holdings Limited
CITIC Trust Company Limited
CITIC Investment Holding Company Limited
CITIC Bank Limited (listed company)
CITIC Bank (International) Co.
CITIC International Financial Holdings Limited
CITIC Life Insurance Company Limited (Joint Venture Insurance Company)
CITIC Securities Company Limited (Listed Company)
CITIC New Horizons Futures Company Limited (Joint Venture Futures Brokerage Company)
CITIC Asset Management Company Limited
CITIC Capital Holding Co. （Ltd.
CITIC Shenzhen (Group) Co.
Guo Hua International Engineering Contracting Co.
CITIC Real Estate Co.
CITIC Construction Co.
China Municipal Engineering Zhongnan Design & Research Institute (CMEDRI)
Wuhan Architectural Design Institute (ADI)
CITIC Metals Co. CITIC Heavy Industry Machinery Company Limited (listed company)
CITIC Tianjin Industrial Development Company
CITIC Electromechanical Manufacturing Company
Bohai Aluminum Company Limited
CITIC Dicastal Company Limited
CITIC Networks Company Limited
CITIC Networks Technology Company Limited
CITIC Resources Holdings Ltd. (listed company)
3. Service Subsidiaries
CITIC International Cooperation Corporation
CITIC Property Services Limited
CITIC Publishing House
CITIC Tourism Corporation
CITIC International Economic Consulting Company
AsiaSat Holdings Limited (listed company)
CITIC Marine Helicopter Company Limited (listed company)
CITIC Culture and Media Group
CITIC International Trade Company Limited
Honglian Jiuwu Information Industry Company Limited
Expanded Information
Past Top Executives of CITIC Group:
1979 -1993: Rong Yiren served as Chairman and General Manager;
1993-1995: Wei Mingyi served as Chairman and Wang Jun as General Manager;
1995-2000: Wang Jun served as Chairman and Qin Xiao as General Manager;
2000-2006: Wang Jun was chairman, and Kong Dan was vice chairman and general manager;
2006-2010: Kong Dan was chairman, and Chang Zhenming was vice chairman and general manager;
2010-April 2013 : Chang Zhenming became chairman and Tian Guoli became vice chairman and general manager;
April 2013-2018 : Chang Zhenming became chairman and Wang Jiong became vice chairman and general manager.
Baidu Encyclopedia - China CITIC Group Corporation Ltd.