CITIC Limited history, company profile (overview) and history video
CITIC Limited (中國中信股份有限公司), previously known as CITIC Pacific Limited, is a conglomerate (a multi-industry company) headquartered in Hong Kong. It is the main subsidiary of CITIC Group Corporation, Ltd., a state-owned investment company of the People’s Republic of China, which was originally formed as China International Trust Investment Corporation (CITIC) in 1979 by Rong Yiren, with the approval of Deng Xiaoping.
HISTORY
CITIC Limited’s origins date back to 1987 when China International Trust and Investment Corporation, now known as the CITIC Group, formed CITIC Hong Kong (Holdings) Limited as a wholly-owned subsidiary in Hong Kong.
CITIC Hong Kong changed its name to CITIC Pacific Limited in 1991, and in 2014, CITIC Pacific Limited was renamed CITIC Limited.
OPERATIONS
As a conglomerate, CITIC Limited has businesses that operate in the following segments: Financial Services, Manufacturing, Specialty New Materials, Specialty Raw Materials, Power Generation, Information Services, Lifestyle Consumption, Agriculture Breeding, Construction and Engineering, Environmental Services, Infrastructure, Healthcare, General Aviation, and Property Development, Operation and Management.
Financial Services
CITIC Bank is one of the largest national commercial banks, covering corporate banking, retail banking, and financial markets services.
CITIC Trust is a national non-bank financial institution focused principally on the trust business.
CITIC-Prudential Life offers life, health and accident insurance, and reinsurance services.
CITIC Securities is a securities company, covering investment banking, wealth management, asset management, financial markets, and equity investment.
Manufacturing
CITIC Dicastal is considered one of the world’s largest producers of aluminium automotive wheels. Its products include wheels and lightweight cast components for powertrains, chassis and body systems for the automotive industry.
CITIC Heavy Industries is considered one of the world’s leading suppliers of heavy mining and cement equipment, and one of China’s largest heavy machinery manufacturers. Its products include heavy machinery, key fundamental and spare components, EPC, specialized robotics, and intelligent equipment.
Specialty New Materials
CITIC Pacific Special Steel is considered one of China’s largest special steel manufacturers, producing bars, plates, seamless steel tubes, forged steel, wires, and casting billets.
CITIC Titanium is specialized in the production of chloride process titanium dioxide. Titanium dioxide is widely used in industries such as coatings, paints, paper, plastic, rubber, chemical fibers, ceramics, and electronics.
Specialty Raw Materials
CITIC Metal Co., Ltd and CITIC Resources Holdings Limited are involved in the production and trading of iron ore, ferroniobium, copper, crude oil, aluminium, and steel.
Power Generation
CITIC Pacific Energy Investment invests in and manages multiple power stations in China.
Information Services
CITIC Telecom International provides mobile, internet, international telecommunications, and fixed-line services.
AsiaSat provides broadcasting, communications, and signal uploading and downloading services.
Lifestyle Consumption
CITIC Press is principally engaged in the book and digital book publication and bookstore retailing.
Dah Chong Hong Holdings (DCH) represents more than 20 automotive brands as a dealer and distributor. DCH’s consumer products business includes brand development, manufacturing, commodity trading, agency distribution, logistics and retail in the food and fast-moving consumer goods, healthcare and electrical products industries.
Agriculture Breeding
CITIC Agriculture focuses on developments in seeding science and technology.
Construction and Engineering
CITIC Construction has operations in infrastructure, housing, municipal and industrial facilities, and has been expanding its EPC (Engineering, Procurement and Construction) business into the agriculture, energy and resources sectors.
CITIC Engineering provides services and digital solutions for projects in infrastructure, urban development and environmental protection.
Environmental Services
CITIC Environment Investment Group (CITICEnvironment) is a specialized investment and operational platform for environmental protection. Its core business covers three major sectors, including water treatment, solid waste and hazardous waste disposal, and energy-saving services.
Infrastructure
The infrastructure segment includes the investment in and management of ports and port terminals, as well as regional developments in China through CITIC Industrial Investment.
Healthcare
The healthcare business primarily includes medical services, elderly care and healthcare distribution.
General Aviation
CITIC Offshore Helicopter (COHC) is considered one of the largest companies in the general aviation sector in China. Its services include offshore flights, onshore industry and forestry-related flights, emergency rescue, maintenance, training, integrated city flight services, sky tours, drone operation, and data collection.
Property Development, Operation and Management
CITIC Pacific Properties focuses on developing and investing in mixed-use and commercial properties and residential properties.
CITIC Urban Development & Operation specializes in urban renewal and development operations.
With more than 200,000 employees, CITIC Ltd. is considered one of China’s largest conglomerates. According to Forbes, it is considered one of the Top 2000 Largest Public Companies in the World.
*Information from Forbes.com, Wikipedia.org, www.group.citic/en. and www.citic.com/en.
**Video published on youtube.com by “Companies History“.