CITIC limited


Financial and Banking  
Industrial Manufacturing  




MarketCap CN

CN China



CITIC Limited operates in the financial services, manufacturing, engineering contracting, advanced materials, consumption, and urbanization businesses in China. The company offers banking products and services; investment banking, brokerage, securities trading and lending,  asset management services; financial, wealth management, and trust services; life, health, and accident insurance, as well as reinsurance products. 

It also engages in the exploration, development, and production of oil; coal mining; import and export of commodities; aluminium smelting; bauxite mining; alumina refining; manganese mining and processing; development of iron ore mine; production of copper and ferroniobium; and operation of coal-fired power stations. In addition, the company manufactures special steel, bars, plates, steel tubes, forged steel, wires, and casting billets. Further, it provides engineering contracting services for infrastructure, housing, municipal, and industrial facilities, as well as agriculture, energy, and resources sectors; and engineering services in the areas of urban development and environmental protection. 

Additionally, the company engages in urban renewal and development projects, including residential properties; the provision of telecommunication services; and healthcare and electrical products. The company was formerly known as CITIC Pacific Limited and changed its name to CITIC Limited in August 2014. The company was founded in 1987 and is based in Central, Hong Kong.


In October 2008, the chairman Larry Yung disclosed that the firm lost HK$15 billion due to "unauthorized trades". 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 less than 70%. Its parent company, CITIC Group pledged its support to this subsidiary. 

The board became aware of this on 7 September 2008, and disclosure was made to the financial markets after trading in its shares was suspended on 20 October. The company and the Hong Kong Securities and Futures Commission faced questions by legislators about the severe delays in their disclosure, considering the company made a pursuant to a proposed acquisition, that as of 9 September, "the Directors are not aware of any material adverse change in the financial or trading position of the Group since 31 December 2007". When the shares resumed trading, the share price had fallen by some 75% since the previous close. As a result of the revelations, two officers were forced to resign in disgrace. Due to her involvement in the loss, the chairman's daughter was demoted. The chairman claimed his daughter Frances Yung had not informed him about the situation before its discovery. 

Managing director Henry Fan temporarily stepped down from the Executive Council and the chairmanship of the Mandatory Provident Fund Schemes Authority, and all other major public positions he held with effect 24 October 2008. On 3 April 2009, trading in CITIC Pacific shares was once again suspended, and the Hong Kong Police searched the company's office as part of an investigation into whether the company directors had made false statements about the foreign-exchange contracts, as well as company announcements made between July 2007 and March 2009, or had conspired to defraud. On 8 April, chairman Larry Yung resigned, citing the effect of the Commercial Crimes Bureau's visit to the company on public opinion; managing director Henry Fan resigned at the same time. They were replaced by Chang Zhenming, the Chairman of the CITIC Group.

CITIC Pacific bought most of the assets from the parent company and issue new shares to the parent, making most of the assets of CITIC Group were listing on a stock exchange. However, CITIC Group still retained the stake in CITIC Guoan Group.

In 2014 the name of the company was also changed from CITIC Pacific Limited to just CITIC Limited. On 20 January 2015, the Japanese general trading company Itochu and its Thai cross-shareholding affiliate Charoen Pokphand announced an investment of approximately HK$80 billion in CITIC Limited, the largest investment ever made by a Japanese general trading company. 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.

The deal saw Chia Tai Bright Investment, a 50–50 joint venture of Itochu and Charoen Pokphand, acquire a 10% stake of CITIC Limited from CITIC Group for HK$34.4 billion, as well as subscribe new convertible preferred shares for HK$45.9 billion. Before the deal, CITIC Group owned a 77.90% stake, with National Social Security Fund owning an additional 5.00%, making only 17.1% shares of CITIC Limited actually free float on 31 December 2014. The company also had HK$13.834 billion in perpetual capital securities. 

On 9 January 2017 the consortium of CITIC Limited, private equity funds of CITIC Capital and Carlyle, bought an 80% stake in the franchise rights of McDonald's in Hong Kong and mainland China, for a total consideration of up to US$2.08 billion. CITIC Limited and CITIC Capital would own a 52% stake collectively, while Carlyle would own 28% separately. 20% stake would be retained by McDonald's via Golden Arches Investments Limited. In January 2020, CITIC invited other investors to buy most of their stake in the aforementioned Fast Food Holdings.


“CITIC Group, aligning its mission with national goals and contributing to national rejuvenation, pursues a vision of ‘building an outstanding conglomerate with a lasting reputation.’”


“CITIC is committed to pioneering national goals and to being a leading technology-driven group.”

Key Team

Ms. Youmei Ni (Chief Accountant)

Ms. Lisa Yang (Gen. Mang. of Technical Services)

Ms. Chen Meng Holly (Director of Group Investor Relations & Corp. Communications)

Mr. Wing Kay Choy (Group Gen. Counsel & Joint Company Sec.)

Ms. Huayue Zhu (Gen. Mang. of Sales & Marketing)

Mr. Youjun Zhang (Assistant Pres)

Mr. Jun Cui (Member of Exec. Committee)

Recognition and Awards
CITIC Bank was ranked 16th in the Top 500 Global Banking Brands list published by The Banker magazine. - CITIC Trust received the Best Overall Trust Company Award by Financial Magazine 2021

CITIC limited
Leadership team

Mr. Guohua Xi (Vice Chairman & Pres)

Mr. Guoqiang Cao (Chief Financial Officer)


Financial and Banking

Industrial Manufacturing

Products/ Services
Energy, Finance, Financial Services, Manufacturing
Number of Employees
Above 50,000
Central, Hong Kong Island, Hong Kong
Company Type
Public Limited Company
Company Registration
SEC CIK number: 0001389259
Net Income
1B - 20B
Above - 1B
Traded as
Social Media

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