Approved by the State Council, CITIC Group finalized the restructuring and made the investment based on most of its operating assets to establish CITIC Limited with joint initiation of Beijing CITIC Enterprise Management CO., Ltd, one of its wholly owned subsidiaries. The registered capital of CITIC Limited stands at RMB 128 billion.

The meeting of CITIC Limited’s first shareholders general assembly convened in Beijing on Dec 27th 2011. CITIC Group and Beijing CITIC Enterprise Management CO., Ltd sent delegates to attend the meeting as the sponsors. Delegates from ministries and commissions under the State Council were also present at the meeting.

The general assembly considered and adopted proposals including the Draft Articles of Association of CITIC Limited and elections of the Board of Directors and Supervisors. After the shareholders’ meeting, CITIC Limited held the first meeting of the first Term of Board and the first meeting of the first Term of Supervisory Committee, electing Chairman and Vice Chairman of the Board, appointing the President, Vice Presidents, Chief Financial Officer, Assistant Presidents and Secretary of the Board. According to relative rules and regulations, CITIC Limited has established its modern corporate governance structure consisting of the shareholders general assembly, the Board of Directors, the Board of Supervisors and the senior management team.

On the same day, CITIC Limited got the Business License for an Enterprise as a Legal Person and finalized its establishment.