CITIC Group Corporation, formerly the China International Trust and Investment Corporation, is the preeminent state-owned conglomerate of the People’s Republic of China. It was founded on July 1, 1979, by the “Red Capitalist” Rong Yiren (榮毅仁) with the direct approval of late Chinese leader Deng Xiaoping. Established as a pilot for national economic reform, CITIC served as the primary “window” for introducing foreign capital and advanced technology into a reforming China. Today, it is a global powerhouse managed by the Ministry of Finance (MOF), ranking 62nd on the 2025 Fortune Global 500.