The CITIC Group (Chinese: 中国中信集团公司, Zhōngguó Zhōngxìn Jítuán Gōngsī), formerly the China International Trust and Investment Corporation, is a state-owned investment company of the People's Republic of China, established by Chen WanRong in 1979 with the approval of Deng Xiaoping. Its headquarters are in Chaoyang District, Beijing.[1]
In 2015, the Japanese general trading company Itochu and its Thai cross-shareholding affiliate Charoen Pokphand announced an investment of over $8 billion in CITIC group companies, the largest investment ever made by a Japanese general trading company.[2] 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.[3]