TOPIC

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Citic

Citic is China's largest state-run conglomerate, with a primary focus in financial services, but also property development, heavy industry and metals and mining. It owns Citic Securities, the country's largest securities company, and China Citic Bank, a second-tier lender. It also owns the Sino Iron mine in Australia's Pilbara region, which is the largest magnetite iron-ore mine in the world.

CFO / Finance Director

Chang Zhenming (Chairman)

Industry

Investment company

Website

citic.com

Headquarters address

Hong Kong

Stock Code

SEHK:0267

Year founded

1979

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Citic Securities rides Hong Kong’s IPO wave, sponsoring dozens of firms

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Robotics

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Apple supplier Lens Tech leads city’s new IPO filings with US$608 million deal

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International Property

Citic enlarges Saudi Arabia footprint with 3,500-flat Riyadh project

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The exhibition booth of the Saudi National Housing Corporation at the Cityscape Global expo in Riyadh, Saudi Arabia on November 11, 2024. Photo: Instagram/saudinhc

Banking & finance

Distressed asset manager China Huarong buys US$1.7 billion stake in Citic

The company, one of China’s largest distressed debt managers, will acquire a 5.01 per cent stake at HK$9.35 per share from Citic Polaris, a wholly owned subsidiary of Citic Group, and change its name to China Citic Financial Asset Management.

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Swire snaps up Wan Chai parcel for HK$1.96 billion, beating 20 rivals

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Former president and chairman of Citic Culture and Media, Li Bolun. Photo: Sina

Hong Kong property

Citic Pacific wins Tai Hang luxury residential site for HK$3.2 billion

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Banking & finance

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A China Construction Bank branch vandalised by protesters following a rally in defiance of the anti-mask law issued by the government on October 5, 2019. Photo: Felix Wong

Swire Group

CLSA renews lease with property arm of Cathay Pacific owner

Brokerage CLSA has renewed its office lease at Hong Kong conglomerate Swire Properties’ flagship property. The Financial Times reported on Wednesday the firm had been under pressure to quit the premises by its mainland Chinese state-owned parent, Citic Securities.

18 Sep 2019 - 10:57PM

CLSA has leased office space at One Pacific Place since 2000, Swire Properties says. Photo: Shutterstock

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Banking & finance

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Obituaries

Wang Jun, ‘princeling’ of one of China’s founding elders, dies at 78

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11 Jun 2019 - 11:35PM

An undated photograph of Wang Jun. Photo: Baidu

Commodities

Why merger at Citic firms adds steel to China’s self sufficiency ambitions

Shares in Chinese financial-to-industrial conglomerate Citic gained on Thursday after two specialist steelmakers it controls agreed to merge on Wednesday, in a deal worth US$3.3 billion.

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Steel pipes at a stockyard in Shanghai. Citic is creating an industry leader at a time when Beijing wants the country to consume and produce more high-quality steel products. Photo: Bloomberg

Going Global

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27 Apr 2017 - 10:45PM

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Citic

China’s Unitree Robotics completes pre-IPO tutoring for onshore listing

The unicorn is reportedly aiming for a valuation of up to US$7 billion in a listing on Shanghai’s Nasdaq-style Star Market.

.css-sioo19{color:#c79a00;}Exclusive | China’s wealthy flock to Hong Kong for global investments, banker says

What AI means for young bankers: fewer entry roles, but faster career paths

Citic Securities rides Hong Kong’s IPO wave, sponsoring dozens of firms

As hedge funds and long-only investors pour into listings, bank’s Hong Kong unit expands to meet demand, head of investment banking says.

HSBC, Standard Chartered complete first yuan repo under new scheme

Under the scheme, all overseas institutional investors in the onshore bond market can remit yuan obtained for offshore use.

China narrows AI development gap with US, but still lags in advanced chips: CLSA

The China-US AI gap narrows to around three months from more than a year previously, CLSA’s head of technology research says.

China investing US$350 million in Angola in drive to boost food security

The deals to grow corn and soybeans involving major state-owned firms come as Beijing seeks to reduce reliance on US agricultural supplies.

China robotics firm Unitree eyes IPO filing this year

The company is on track to become the first humanoid robot maker to list on a mainland bourse.

Why China’s yuan is forecast to keep strengthening against the US dollar

A resilient domestic economy and US debt fears could see the Chinese currency appreciate further, analysts say.

Apple supplier Lens Tech leads city’s new IPO filings with US$608 million deal

Company sets aside 11 per cent of base offering to local investors; upsize and overallotment options could swell total proceeds to HK$6.3 billion.

Chinese smartphone maker Honor moves closer to onshore share listing

Mainland market’s fourth-largest smartphone maker first announced plans to list A shares in November 2023.

Global economy jitters grow after Trump’s Iran strikes, Strait of Hormuz fears

Escalating Israel-Iran conflict could disrupt oil trade and shake markets, analysts say.

With Hong Kong’s stablecoin law, mainland firms are preparing for a market boom

The brokerage expects the new stablecoin law to lead to more real-world asset tokenisation projects from mainland firms in the city.

‘A bit lost’: China’s savers search for options after deposit rate cuts

With deposit yields dropping below 1 per cent at major banks for the first time, Chinese households are on the hunt for alternatives.

Citic enlarges Saudi Arabia footprint with 3,500-flat Riyadh project

The project, also called Khuzam Hills, comprises several phases, the first of which is scheduled for delivery in 2026, according to the website of Citic’s partner Rafal.

Distressed asset manager China Huarong buys US$1.7 billion stake in Citic

The company, one of China’s largest distressed debt managers, will acquire a 5.01 per cent stake at HK$9.35 per share from Citic Polaris, a wholly owned subsidiary of Citic Group, and change its name to China Citic Financial Asset Management.

Swire snaps up Wan Chai parcel for HK$1.96 billion, beating 20 rivals

Swire beat out rivals such as CK Asset Holdings, Kerry Properties and Citic Pacific for land that could fetch HK$33,000 per square foot when construction is completed.

Drugs, disgrace and the mysterious death of a Chinese media mogul

Li Bolun was one of the most powerful figures in the Chinese entertainment industry. His precipitous fall from favour has left a legacy of legal wrangling over the ownership of a Canadian Chinese media company.

Citic Pacific wins Tai Hang luxury residential site for HK$3.2 billion

Hong Kong-listed and Chinese state-backed conglomerate Citic Pacific has won a luxury residential plot in Tai Hang, southeast of Causeway Bay, for HK$3.2 billion (US$410.8 million), the city’s Lands Department said on Wednesday.

Citic Pacific makes offer to take Dah Chong Hong private

DCH’s business has been challenged by intense competition and diversified landscape.

Banks implement staff contingency plans as protests rage

Banks say they’re focused on the safety of their employees and still being able to provide services to customers as protests in Hong Kong continue

CLSA renews lease with property arm of Cathay Pacific owner

Brokerage CLSA has renewed its office lease at Hong Kong conglomerate Swire Properties’ flagship property. The Financial Times reported on Wednesday the firm had been under pressure to quit the premises by its mainland Chinese state-owned parent, Citic Securities.

Exclusive | Investors offer to buy Hong Kong Airlines, ending boardroom tussle

The family of former chief secretary Henry Tang Ying-yen is among a consortium of investors in talks to buy Hong Kong Airlines.

China has a big headache instead of getting its own Goldman Sachs

Citic Securities has been hit by a wave of more than 50 resignations since January, an exodus that threatens to upend China’s push to create a global investment banking powerhouse.

Wang Jun, ‘princeling’ of one of China’s founding elders, dies at 78

Wang Jun, the son of one of communist China’s founding elders and a former chairman of the country’s largest state conglomerate, died on Monday, aged 78.

Why merger at Citic firms adds steel to China’s self sufficiency ambitions

Shares in Chinese financial-to-industrial conglomerate Citic gained on Thursday after two specialist steelmakers it controls agreed to merge on Wednesday, in a deal worth US$3.3 billion.

China's Citic to buy 20 per cent stake in Canadian copper miner Ivanhoe

Minority shareholders urge watchdog to appeal Citic misconduct ruling

Exclusive | China’s wealthy flock to Hong Kong for global investments, banker says