Chinese CITIC ready for more projects in Belarus
10 November 2011
BEIJING (BelTA) – The Chinese state company CITIC intends to continue construction projects in Belarus, Chairman of the Board of the CITIC Construction Co. Ltd Hong Bo stated as he met with Belarus Vice Premier Anatoly Tozik in Beijing.
The sides discussed the ongoing construction of three cement works in Belarus, considered a number of promising projects on setting up joint companies to produce construction materials in Belarus and other forms of direct investing.
CITIC Сconstruction Co. Ltd. makes part of the Chinese largest state corporation CITIC Group. The corporation, with the initiation and approval of Deng Xiaoping, chief architect of China's reforms, was established by Rong Yiren, former Vice President of PRC, in 1979.
CITIC has grown into a large transnational conglomerate. It now owns 44 subsidiaries (banks) including those in Hong Kong, the United States, Canada, Australia, New Zealand. The total number of employees around the globe exceeds 70,000 people.