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CITIC Group

Whoa! How did you get here? This company profile is not meant to be publicly available. Research on this company is incomplete, and the overall rating has been disabled, but while you are here feel free to have a look at the info we do have.

OVERALL

Owned
CHN
Rating
N/A

Conglomerate

100% owned by China's Ministry of Finance. One of China's largest conglomerates.

Company Ownership

CITIC Group Corporation Ltd   CHN     website         
  Government of the People's Republic of China   
   owns 100% of CITIC Group Corporation Ltd  
CHN     website         

Communist government

All power within the government of the People's Republic of China is divided among three bodies: the Chinese Communist Party, State Council, and the People's Liberation Army. In recent years China has been consolidating it's state-owned assets and inviting private investors to invest (often family members of high ranking government officials), however in most cases the government retains control and majority ownership. We have listed State-Owned Enterprises (SOEs) simply as subsidiaries of China's government, although in reality company ownership is often more complex.

> About the Ratings

Company Assessment

PRAISE CRITICISM INFORMATION
CITIC Group Corporation Ltd
Social Financing cluster munitions producers
The 2017 update to the report entitled "Worldwide Investments in Cluster Munitions: a Shared Responsibility" identifies 166 banks and other financial institutions with financial links to cluster munitions producers. This bank is listed in the report's Hall of Shame for having investments in one or more of the 6 cluster munitions producers named in the report between 1 June 2013 to 17 March 2017.
Source: Cluster Munition Coalition (2017)
Business Ethics Tax dodging in Australia
Between 2013 and 2018 this company paid zero tax on a total income of $8.9 billion, earning the number 26 spot on Michael West's Top 40 Tax Dodgers 2020. West calculated which of Australia's largest companies have paid the least tax, or no tax, on the highest incomes using five years of tax transparency data published by the Australian Tax Office.
Source: Michael West (2020)
Environment Financing single-use plastic waste
This bank is the world's 75th largest provider of loans and underwriting for single-use plastic polymer production, according to Minderoo Foundation's 2021 Plastic Waste Makers Index. Institutional asset managers and global banks are providing billions of dollars to companies that produce polymers from fossil fuels, as much as 100 times more than they provide to companies trying to shift to a circular economy. Plastic pollution is one of the biggest, most urgent threats facing our planet and our health.
Source: Minderoo Foundation (2021)
Business Ethics Corporate citizenship claims
This company has corporate citizenship claims on its website, including the areas of environment protection and community services.
Source: company website (2018)
Government of the People's Republic of China
Environment Investing in single-use plastic waste
This company is the world's 2th largest equity owner of companies producing single-use plastic waste, according to Minderoo Foundation's 2021 Plastic Waste Makers Index. Institutional asset managers and global banks are providing billions of dollars to companies that produce polymers from fossil fuels, as much as 100 times more than they provide to companies trying to shift to a circular economy. Plastic pollution is one of the biggest, most urgent threats facing our planet and our health.
Source: Minderoo Foundation (2021)
Social Treatment of Uyghurs
Amnesty International's 2021 report 'Like We Were Enemies in a War', outlines how Uyghurs, Kazakhs and other predominantly Muslim ethnic minorities in China's Xinjiang Uyghur Autonomous Region face systematic state-organized mass imprisonment, torture and persecution amounting to crimes against humanity. Muslim ethnic groups are being forced to abandon their religious traditions, cultural practices and local languages.
Source: Amnesty Intl (2021)
Social Human rights abuse
According to Human Rights Watch: "China's one-party authoritarian state under the Chinese Communist Party systemically curbs fundamental rights. Under President Xi Jinping, in power since 2013, the government has deepened repression at home and sought to muzzle critics abroad. It has arbitrarily detained human rights defenders and lawyers, tightened control over civil society, media, and the internet, and deployed invasive mass surveillance technology. The government imposes particularly heavy-handed control in the ethnic minority regions of Xinjiang and Tibet. The government's cultural persecution and arbitrary detention of a million Uyghurs and other Turkic Muslims since 2017 constitute crimes against humanity. In Hong Kong, the government imposed draconian national security legislation in 2020 and systematically curbed the city's freedoms. The government initially covered up the Covid-19 outbreak and later hindered international efforts to investigate the virus's origin."
Source: Human Rights Watch (2021)
Social Human rights abuse
Amnesty International's 2020 report on China states "The year was marked by harsh crackdowns on human rights defenders and people perceived to be dissidents, as well as the systematic repression of ethnic minorities. The beginning of the year saw the start of the COVID-19 outbreak in Wuhan, which killed more than 4,600 people in China. People demanded freedom of expression and transparency after authorities reprimanded health professionals for warning about the virus. At the UN, China was strongly criticized and urged to allow immediate, meaningful and unfettered access to Xinjiang. Stringent restrictions on freedom of expression continued unabated. Foreign journalists faced detention and expulsion, as well as systematic delays to and refusals of visa renewals. Chinese and other tech firms operating outside China blocked what the government deemed politically sensitive content, extending its censorship standards internationally. China enacted its first Civil Code, which received thousands of submissions by the public calling for legalization of same-sex marriage. Hong Kong’s National Security Law led to a clampdown on freedom of expression." Follow the link for further details.
Source: Amnesty Intl (2021)
Information Wikipedia profile
Follow the link to see Wikipedia's article on the government of the People's Republic of China.
Source: Wikipedia (2021)

> About the Icons

Company Details

Type State-owned enterprise
Subsidiaries CITIC Ltd (58% owned) 

Conglomerate

A diversified company with a primary focus on special steel manufacturing, property and iron ore mining. 58% owned by the state-owned CITIC Group.

Contact Details

Address Beijing, China
Website www.group.citic/en/

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