CITIC Group Corporation Ltd., formerly the China International Trust Investment Corporation (CITIC), is a state-owned investment company of the People's Republic of China, established by Rong Yiren in 1979 with the approval of Deng Xiaoping. [7] The group also acquired 12.5% stake of the Hong Kong flag carrier Cathay Pacific in 1987,[7] and became a member of a shareholders' agreement in 2006;[8] the stake was sold to fellow state-owned company Air China in 2009. As of 2019, it is China's biggest state-run conglomerate with one of the largest pools of foreign assets in the world. Since its inception, CITIC Group has been a pilot for national economic reform and an … Larry also led the Hong Kong office and parent company of CITIC Pacific since 1986; Larry became a Hong Kong-based businessman since 1978. 6, Xinyuan South Road Chaoyang District, Beijing Itochu's CITIC Deal Towers Above Others", Grasping the large, letting go of the small, China Banknote Printing and Minting Corporation, National Development and Reform Commission, Ministry of Industry and Information Technology, State-owned Assets Supervision and Administration Commission, State Administration for Industry and Commerce, China Council for the Promotion of International Trade, All-China Federation of Industry and Commerce, Guangdong-Hong Kong-Macau Greater Bay Area, Mainland and Hong Kong Closer Economic Partnership Arrangement, Mainland and Macau Closer Economic Partnership Arrangement, Regional Comprehensive Economic Partnership, https://en.wikipedia.org/w/index.php?title=CITIC_Group&oldid=1000384331, Conglomerate companies established in 1979, Multinational companies headquartered in China, Ministry of Finance of the People's Republic of China, Pages with non-numeric formatnum arguments, Articles containing simplified Chinese-language text, Articles containing traditional Chinese-language text, Articles containing Chinese-language text, Creative Commons Attribution-ShareAlike License, This page was last edited on 14 January 2021, at 21:43. The parties noted that the cooperation between CITIC Group and Belarus has reached the level of long-standing strategic relations, and that … CITIC Group (formerly China International Trust and Investment Corporation) CITIC Group, with the initiation and approval by Deng Xiaoping, chief architect of China's reform and opening - … [16] The transaction is also the largest acquisition in China by a Japanese company, and the largest investment by foreigners in a Chinese state-owned enterprise. Mr. Bai joined China CITIC Bank Corporation Limited’s Financial Markets Department from Bank of Beijing in 2006. [7] His son, Larry Yung,[nb 1] was the former chairman of CITIC Group's listed subsidiary CITIC Pacific. CITIC Guoan Group Co., Ltd. (hereinafter referred to as Guoan Group) is a subsidiary of CITIC Group Corporation. Part 243) and the Federal Deposit Insurance Corporation (“FDIC”) (12 C.F.R. -1- EXECUTIVE SUMMARY This 2018 U.S. resolution plan (the “2018 Plan”) of CITIC Group Corporation (“CITIC Group”) is being filed pursuant to implementing regulations (the “Final Rule”) issued by the Board of Governors of the Federal Reserve System (“FRB”) (12 C.F.R. Application Details. Mr Chang is the chairman of the executive committee, the nomination committee and the strategic committee. In the 1980s, Chinese government founded many for profit corporations, which CITIC was under the leadership of Rong Yiren, a former businessman and politician at that time, who chose to stay in the Mainland China in the 1950s after his family business was nationalized. CITIC Group Corporation, the shareholder of CITIC Limited was established in 1979 by Comrade Rong Yiren with the initiation and support by Comrade Deng Xiaoping. He resigned as the chairman of CITIC Hong Kong (Holdings) Limited on 20 June 2017. Part of the assets of the group were injected into the listed company as reverse IPO, including the stake of aforementioned Cathay Pacific. In 2009, he took up an additional role at the Chairman Office of CITIC Group, assisting the Group’s Chairman with corporate governance, group projects and business affairs. 2021年01月12日 中信信托原资本运营二部总经理李革严重违纪违法被开除党籍. 80 CITIC Group reviews. [15] It was reported it was the largest investment ever made by a Japanese general trading company. It was formerly known as Beijing Guoan Hotel, which was invested by China International Trust & Investment Corporation with CNY 1.5 million in April 1987. Its initial aim was to "attract and utilize foreign capital, introduce advanced technologies, and adopt advanced and scientific international practice in operation and management. 2021年01月04日 中信重工工业互联网平台获评国家级试点示范 The agreement was signed between China’s CITIC Group Corporation and a consortium of Iranian banks that included Bank of Industry and Mine, Refah Bank, Parsian Bank, Bank Pasargad and Export Development Bank of Iran.-- Apply for a personal loan, or learn how to invest in your financial future. However, CITIC Guoan Group was excluded, which was recapitalized by other private capital. Senior executives such as Financial Controller Chau Chi-Yin and Group Finance Director Leslie Chang resigned. CITIC Group’s wholly owned subsidiary CITIC Construction Co., Ltd maintains a branch in Iran and includes the Iran Teheran Metro among its “ representative projects.” CITIC Construction Co. also features the South Iran Aluminum Plant under “ Showcase ” projects. CITIC Group Corporation Ltd., formerly the China International Trust Investment Corporation (CITIC), is a state-owned investment company of the People's Republic of China, established by Rong Yiren in 1979 with the approval of Deng Xiaoping. CITIC Group Tap into the vast resources and network of our parent bank China CITIC Bank and our ultimate shareholder, CITIC Group Corporation. CITIC Group Corporation -- Moody's announces completion of a periodic review of ratings of CITIC Group Corporation Moody's Investors Service … As of 2017, the total asset of the company is CNY 200 billion. CITIC Group, founded in 1979, has been a pioneer in China s economic reforms and opening-up to the rest of the world, by introducing overseas capital, technological know-hows and managerial expertise to China It’s headquartered in Chaoyang District, Beijing. Yung was another transliteration of the same surname: "CITIC Group Corporation: Brief Introduction", "Citic Joins Chinese State Firms Boycotting Cathay Pacific", "Citic Pacific could lose $2 billion from foreign exchange trading", "CITIC Pacific warns potential $2 billion forex losses", "CITIC Limited Receives Investment from Charoen Pokphand Group and ITOCHU", "Itochu, CP to jointly invest 1 trillion yen in China's CITIC Group", "Thaw in Japan-China Business Ties? Corporation Limited, and asset management services in 1984 9 ] the Group also some! Of their assets to CITIC Limited in 2014 Hong Kong office was formally opened 1985. Businesses that is 100 % owned by the Chinese government ( 12 C.F.R of 2017, address. Its U.S. operations, exceeded $ 50 billion as of December 31, 2014. [ 14.! Parent company of CITIC Hong Kong ( Holdings ) Limited on 20 June 2017 the vice chairman of International! 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