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CITIC Group Snapshot
While foreign investors rushed into China, CITIC built its name on investing Chinese funds outside its homeland. State-owned conglomerate CITIC Group oversees the government's international investments, as well as some domestic ones. It has some 45 subsidiaries on four different continents including financial institutions (about 80% of the company's assets), industrial concerns (telecommunications, construction, manufacturing), and service companies (media, technology). Holdings include stakes in CITIC Securities, CITIC Pacific, CITIC Resources Holdings, and CITIC International Financial Holdings (CIFH). CITIC's leadership answers directly to the government's state council.
