CITIC Group was established in 1979 by Mr. Rong Yiren with the support of late Chinese leader Deng Xiaoping. Since its inception, CITIC Group has been a pilot for national economic reform and an important window on China’s opening to the outside world. It has blazed a new trail of development for China’s Reform and Opening-up by raising foreign capital, introducing advanced technologies, and adopting advanced international practice in operation and management, thus building up good reputation both home and abroad.
CITIC Group has developed into a large state-owned multinational conglomerate with a wide range of businesses covering finance, energy and resources, manufacturing, engineering contracting, real estate and others. CITIC Group ranks 149nd on Fortune Global 500 in 2018.
In August, 2014, CITIC Group injected its majority assets into CITIC Pacific, its Hong Kong-listed subsidiary, which was sequentially renamed CITIC Limited (SEHK: 00267).
CITIC Limited (SEHK: 00267) is one of the largest constituents of the Hang Seng Index. As of 31st December 2017, CITIC Limited had total assets of HK$7520.7 billion, total revenue of HK$450.5billion and net profit attributable to ordinary shareholders of HK$43.9 billion.