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CITIC
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. Its headquarters are in Chaoyang District, Beijing. it is China's biggest state-run conglomerate with one of the largest pools of foreign assets in the world. In 2023, the company was ranked 71st in the Forbes Global 2000. Businesses Its initial aim was to "attract and utilize foreign capital, introduce advanced technologies, and adopt advanced and scientific international practice in operation and management." It now owns 44 subsidiaries including China CITIC Bank, CITIC Limited, CITIC Trust and CITIC Merchant (mainly banks) in mainland China, Hong Kong, the United States, Canada, Australia and New Zealand. History CITIC Group was founded as the China International Trust Investment Corporation ( zh, s=中国国际信托投资公 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CITIC Limited
CITIC Limited () is a conglomerate headquartered in Hong Kong. Its shares are listed on the Main Board of the Hong Kong Stock Exchange, and it is a constituent of the Hang Seng Index. 58% of its issued shares are owned by the Chinese state-owned CITIC Group. It is principally engaged in financial services, resources and energy, manufacturing, engineering contracting, real estate and other businesses. History 2008 Foreign exchange losses controversy In October 2008, the chairman Larry Yung disclosed that the firm lost HK$15 billion (US$2 billion) due to "unauthorized trades".Carol Chan (22 October 2008) "Daughter demoted", Pg A1, ''South China Morning Post'' The unauthorised trades were hedges with a contract value of A$9 billion against the Australian dollar, taken out to cover against a A$1.6 billion prospective acquisition and capital expenditure. Losses were incurred on the contracts when the currency declined from 98.5% against the US dollar to le ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
China Zun
CITIC Tower, also known as China Zun, is a supertall skyscraper in the Central Business District of Beijing, China. The 109-story, building constructed by China Construction Third Engineering Bureau is the tallest in the city, surpassing the China World Trade Center Tower III by . On 18 August 2016, CITIC Tower surpassed China World Trade Center Tower III in height, becoming Beijing's tallest building. The tower structurally topped out on 9 July 2017, fully topped out on 18 August 2017, and was completed in late 2018, making CITIC Tower the tallest completed building of 2018. , it is the tallest building with a rooftop helipad in the world. The nickname China Zun comes from the ''zun'', an ancient Chinese wine vessel which inspired the building design, according to the developers, the CITIC Group. The groundbreaking ceremony of the building took place in Beijing on 19 September 2011, and the constructors expected to finish the project within five years. CITIC Tower is Northe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
China CITIC Bank
China CITIC Bank is a major commercial bank in China, under CITIC Group. Established in 1987, it is a nationally comprehensive and internationally oriented commercial bank. The bank operates in Hong Kong, Macau, New York, Los Angeles, Singapore and London, and maintains a strong foothold on the mainland banking industry. The bank operates 163 branches in the mainland, and 1,252 sub-branches, located in economically developed regions of China. History Origins In 1984, the chairman of CITIC group at the time, Rong Yiren (荣毅仁), requested that the Chinese government create a banking division under his company, to fully embody the needs for foreign exchange. This move was approved by the People's Bank of China, and a banking division was created under CITIC group in April 1985. At this point, the bank was based on the original finance department, expanding its operations regarding external financing, foreign exchange transactions, loans, international settlement, finance lea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Larry Yung
Larry Yung Chi-kin or Rong Zhijian (; born 31 January 1942) is a Chinese businessman and the former chairman of CITIC Pacific, a Hong Kong–based conglomerate. According to Hurun Report, he was one of the wealthiest people in mainland China, with a personal net worth of US$2.9 billion as of 2013. He was in charge of CITIC Pacific when it made its first major loss in 20 years, $2 billion, due to speculation in FX accumulators. This exposed the lack of internal management controls, which subsequently resulted in a temporary suspension of CITIC Pacific shares on the Hong Kong Stock Exchange and police raids at CITIC. Biography Early life Yung was born in Shanghai to businessman Rong Yiren, who later became the vice president of China during the 1990s. He graduated from Shanghai Nanyang Model High School in 1959 and went on to Tianjin University, where he majored in electronic engineering. Yung's uncle, Paul, elder brother of Yiren, died with 34 others in Hong Kong's worst ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chang Zhenming
Chang Zhenming (Simplified Chinese: 常振明), born October 1956 in Beijing, China, is the Chairman of CITIC Group and the Chairman and Managing Director of CITIC Group's Hong Kong listed subsidiary company, CITIC Pacific. Education and early life From 1971 to 1977, Chang Zhenming worked at the Dining Hall of the School Affairs Department at Tsinghua University. From 1979 to 1983, he studied Japanese Literature at the Beijing International Studies University, then from 1984 to 1985, he received on-job training at Daiwa Securities in Japan. Chang Zhenming additionally holds a Master of Business Administration from the College of Insurance in New York City, United States.Bio of Chang Zhenming ''Wharton University of Virginia'' Career From 1985 to 1989, Chang Zhenming was deputy manager of the Treasury divis ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rong Yiren
Rong Yiren (; May 1, 1916 – October 26, 2005) was the Vice President of China from 1993 to 1998 and was heavily involved with the opening of the Chinese economy to western investment. Rong is known both in China and in the Western world as "the Red Capitalist" because his family were some of the few pre-1949 industrialists in Shanghai to have been treated well by the Chinese Communist Party in return for their co-operation with the government of the People's Republic of China. Biography Early life Rong was born on May 1, 1916, in Wuxi, a city near Shanghai in Jiangsu Province. His father Rong Desheng and uncle Rong Zongjing were the founders and operators of a flour and cotton milling business. He graduated with a degree in history from the Christian-run St. John's University. Then he was assigned to manage a part of the family business and he took over the running of all 24 mills upon the death of his elder brother Paul Yung (Rong Yixin) in an air crash on Basalt Islan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chaoyang District, Beijing
Chaoyang District () is an urban list of administrative divisions of Beijing, district of Beijing. It borders the districts of Shunyi, Beijing, Shunyi to the northeast, Tongzhou, Beijing, Tongzhou to the east and southeast, Daxing, Beijing, Daxing to the south, Fengtai, Beijing, Fengtai to the southwest, Dongcheng, Beijing, Dongcheng, Xicheng, Beijing, Xicheng, and Haidian, Beijing, Haidian to the west, and Changping, Beijing, Changping to the northwest. Chaoyang is home to the majority of Beijing's many foreign embassies, the well-known Sanlitun bar street, as well as Beijing's growing Beijing central business district, central business district. The Olympic Green, built for the 2008 Summer Olympics, is also in Chaoyang. Chaoyang extends west to Chaoyangmen on the eastern 2nd Ring Road, and nearly as far east as the Ximazhuang toll station on the Jingtong Expressway. Within the urban area of Beijing, it occupies , making it the central city's largest district, with Haidian seco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Forbes Global 2000
The ''Forbes'' Global 2000 is an annual ranking of the top 2000 public companies in the world, published by: sales, profit, assets and market value. The list has been published annually since 2003. By country Forbes Global 2000 as of 2023: 2023 list In 2023, the ten largest companies as calculated by this method were: 2022 list In 2022, the ten largest companies as calculated by this method were: 2021 list In 2021, the ten largest companies as calculated by this method were: 2020 list In 2020, the ten largest companies as calculated by this method were: 2019 list In 2019, the ten largest companies as calculated by this method were: 2018 list In 2018, the ten largest companies as calculated by this method were: As a group, the ''Forbes'' Global 2000 in year 2018 accounts for $39.1* trillion in sales, $3.2 trillion in profit, $189* trillion in assets and $56.8* trillion in market value. By industry sector The top-ranked companies in each industry sec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Finance Of The People's Republic Of China
The Ministry of Finance of the People's Republic of China is the Constituent departments of the State Council, constituent department of the State Council of the People's Republic of China which administers macroeconomic policies and the annual Government budget, budget. It also handles fiscal policy, economic regulations and government expenditure for the state. The ministry also records and publishes annual macroeconomic data on China's economy. This includes information such as previous economic growth rates in China, central government debt and Debt, borrowing and many other indicators regarding the economy of mainland China. The Ministry of Finance's remit is smaller than its counterparts in many other states. Macroeconomic management is primarily handled by the National Development and Reform Commission (NDRC). State-owned industries are the responsibility of the State-owned Assets Supervision and Administration Commission, and there are separate regulators for China ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State-owned Enterprises Of China
A state-owned enterprise of the People's Republic of China ( Chinese: 国有企业) is a legal entity that undertakes commercial activities on behalf of an owner government. , the People's Republic of China has more SOEs than any other country, and the most SOEs among large national companies. As of the end of 2019, China's SOEs represented 4.5% of the global economy and the total assets of all China's SOEs, including those operating in the financial sector, reached US$78.08trillion. State-owned enterprises accounted for over 60% of China's market capitalization in 2019 and estimates suggest that they generated about 23-28% of China's GDP in 2017 and employ between 5% and 16% of the workforce. Ninety-one (91) of these SOEs belong to the 2020 Fortune Global 500 companies. Almost 867,000 enterprises have a degree of state ownership, according to Franklin Allen of Imperial College London. The role of the Chinese Communist Party (CCP) in SOEs has varied at different periods bu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Mansion (20240420141203)
Capital and its variations may refer to: Common uses * Capital city, a municipality of primary status ** Capital region, a metropolitan region containing the capital ** List of national capitals * Capital letter, an upper-case letter Economics and social sciences * Capital (economics), the durable produced goods used for further production * Capital (Marxism), a central concept in Marxian critique of political economy * Economic capital * Financial capital, an economic resource measured in terms of money * Capital good * Human capital * Natural capital * Public capital * Social capital Architecture and buildings * Capital (architecture), the topmost member of a column or pilaster * The Capital (building), a commercial building in Mumbai, India * Capital (fortification), a proportion of a bastion Arts, entertainment and media Literature Books * ''Capital'' (novel), by John Lanchester, 2012 * ''Das Kapital'' ('Capital: Critique of Political Economy'), a foundationa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand
New Zealand () is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and List of islands of New Zealand, over 600 smaller islands. It is the List of island countries, sixth-largest island country by area and lies east of Australia across the Tasman Sea and south of the islands of New Caledonia, Fiji, and Tonga. The Geography of New Zealand, country's varied topography and sharp mountain peaks, including the Southern Alps (), owe much to tectonic uplift and volcanic eruptions. Capital of New Zealand, New Zealand's capital city is Wellington, and its most populous city is Auckland. The islands of New Zealand were the last large habitable land to be settled by humans. Between about 1280 and 1350, Polynesians began to settle in the islands and subsequently developed a distinctive Māori culture. In 1642, the Dutch explorer Abel Tasman became the first European to sight and record New Zealand. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
