CITIC Group
| CITIC Group
|
|
|---|---|
 |
|
| legal form | Centrally managed company |
| ISIN | HK0183011623 |
| founding | 1979 |
| Seat |
Beijing , People's Republic of China
|
| Website | www.citic.com |
China International Trust and Investment Corporation ( Chinese 中国 国际 信托 投资 公司 ) or better known under the company abbreviation CITIC is a state-owned finance and investment company of the People's Republic of China . It was renamed the CITIC Group ( Chinese 中国 中信 集团公司 ) in 2000 .
The company was founded in 1979 by Rong Yiren with the support of Deng Xiaoping .
The purpose of the business is to attract foreign capital to China, introduce technologies in China and adopt international scientific practices in management. CITIC has around 44 subsidiaries (2006), mainly banks and various financial companies in China, Hong Kong, the United States, Canada, Australia and New Zealand.
The founder of CITIC was Rong Yiren, the son of one of the wealthiest businessmen in China in the 1930s, Rong Desheng . He was also one of the few capitalists who stayed in China after 1949. Rong Yiren later became the Vice President of China in 1993 and remained so until 1997.
The subsidiaries include CITIC Pacific , which is listed in the Hang Seng Index , and the subsidiary Citic Bank , which is listed in the SSE 50 share index .
On January 3, 2007, CITIC acquired parts of the Canadian oil company Nations Energy Company , whereby CITIC received control rights and shares in the Kazakh oil company KazMunayGas , a semi-public Kazakh oil company. The Kazakh energy minister Baqtyqoscha Ismuchambetov criticized the sale of the divisions by Nations Energy Company to CITIC.
The Citic Group will be listed on the stock exchange in Hong Kong by the underwriters Bank of China International, Goldman Sachs, MorganStanley / SmithBarney, BNP PARIBAS by the third quarter of 2011. The volume of the IPO is 12 billion US dollars.
Current and past projects
For those in the People's Republic of China discharged the 2008 Summer Olympics CITIC built the central Olympic Stadium in Beijing. At the same time, the company also built a new steel mill for ThyssenKrupp in Brazil . The building came under criticism, in particular because of poor construction, so that ThyssenKrupp and CITIC are still fighting over a comparison to this day.
CITIC is currently involved in the construction of the Tehran metro in Iran and the mining of mineral resources in Venezuela .
literature
- Wenxian Zhang, Ilan Alon: A Guide to the Top 100 Companies in China, World Scientific, 2011, ISBN 9789814291460 , p. 123 ff.
See also
Web links
- Official website (English)
Individual evidence
- ↑ China Citic Bank website ( memento of the original from October 29, 2012 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ CITIC Group eyes $ 12 billion HK IPO next year , Reuters English July 23, 2010
- ↑ IPO of the CITIC Group in Hong Kong ( Memento of the original from October 24, 2010 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. , German September 13, 2010
- ↑ Die Zeit: The Sunk Billions , accessed on August 10, 2012.
- ↑ David Böcking: Raw material hunt in Venezuela: Indio uprising against China's iron army. In: Spiegel Online . September 12, 2013, accessed June 9, 2018 .
