Established in 1979 with focus on finance, industrial production and other services, CITIC Group has grown to be a multinational corporation with 44 subsidiary banks in Hong Kong, North America and Australia. It has controlling shares in CITIC Securities, the largest publicly traded securities broker in the Mainland. It reported an 800 per cent jump in net profit in the first half of 2006. The Group also fully owns many Mainland industry giants include CITIC Bank, CITIC Construction and CITIC Resources Holdings. By the end of 2004, the Group has total assets stood at RMB 701.411 billion with an after-tax profit of RMB 1.782 billion.

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