Citic Guoan and Real Madrid agreement
(realmadrid.com)
Updated: 2005-05-27 11:51

Citic Guoan would like to announce the opening of negotiations with Real Madrid to jointly develop an International Sports &Entertainment Project.

The process started January 2005 during the celebrations of the 20th anniversary of the brotherhood between Beijing and Madrid. The first official act of this celebration will be the friendly match between Beijing Guoan F.C. and Real Madrid C.F. included in the "Real Madrid China Tour 2005" organized by Great Gate.

Florentino Pérez, Real Madrid's President commented: "Real Madrid was named by FIFA "The Best Club during the 20th Century", to continue being The Best Club in the coming century we need the Chinese help and contribution, through its culture, its people and through an International Agreement with a so important group as CITIC Corporation."

Mr. Shi Lin Li, Chairman of Citic Guoan commented: "This is the most important project for us in these moments, and we consider this possible international alliance with Real Madrid as a huge step to developt the Chinese football, the Asian football and other markets where the football is going to be the most important sport in a few years."

It is in interest of Real Madrid and Citic Guoan Group that this project helps to develop the sport in China.

ABOUT CITIC AND CITIC GUOAN

China International Trust and Investment Corporation or CITIC, is a diversified holding with business ranging from the financial industry, industrial investment to service industries. 2003 assets stood at ?4 billion .CITIC has grown into a large transnational conglomerate. It now owns 44 banking subsidiaries including those in Hong Kong, the United States, Canada, Australia, New Zealand. The company has also set up representative office in Tokyo, New York and Frankfurt. CITIC's core business ranges from financial industry, industrial investment to service industries.

CITIC Guoan Group

CITIC Guoan Group, a wholly owned subsidiary of CITIC, was founded in September 1989. It is a comprehensive conglomerate with 11,059 employees chiefly engaging in industrial investment and economic development with diversified trades, such as network information services, satellite communications, information network construction, hi-tech research and development, mining, real estate development, international trading, advertisement, tourism and football-related business. It is a member of APEC China Enterprises' Assembly. In the leisure industry, CITIC Guoan has developed a comprehensive tourist business integrating advertising design, production and agent service, large-scale tourist facilities, hotels, restaurants and travel agency services. Among other, CITIC Guoan developed "The Grand Epoch City/ a 3 billion wonder over 13 year dedication"" a major tourist attraction.(www.Grand-epoch-city.com).

In 1992 CITIC Guoan Group set up Beijing Guoan Football Club. And the company has invested ?0 million in constructing Guoan Xianghe Football Training Base. The base has been used by about a dozen domestic and foreign teams for training and matches. Beijing Guoan Football Club is one of the most powerful football teams in China.

Other activities developed by CITIC Guoan Group CITIC Guoan Group has made great success on hi-tech information industry and telecommunication business:

It operates cable TV networks with 6 million subscribers in 14 cities. Total population covered by the networks amounts to 160 million people in 36 million households.

Shandong Traffic Administration Information System of Public Security and Shandong Industrial and Commercial Administration Information Network System, invested by the company in Shandong Province, have been opened and achieved good profits.

Shihua International Financial Information Co., Ltd. held by the company has been the largest-scale financial information company in China with 85% market share in the futures consulting and information sector.

China Golden Medicine Network and Beijing E-commerce Network were named national key e-commerce projects.

168315 Anti-counterfeit Network was set up under the cooperation of CITIC Guoan Group, Xinyuan Public Information Service Co., Ltd. of China Telecom, Chinese Economic and Trade Information Network Co., Ltd of the National Economic and Trade Committee and Chinese Quality Information Network of the National Technical Supervision Bureau. It is the anti-counterfeit service network in large and medium-sized cities.

CITIC Guoan Satellite Communication Network set up by CITIC Guoan Group is one of the largest-scale satellite telecommunication networks in China. CITIC Guoan has constructed China's only world-class research and production base for lithium-ion battery in the Zhongguancun High and New Technology Zone in Beijing.

The company's business in the mining industry mainly involves operations of gold mining, non-ferrous metals and rare metals, owning 13 gold mines, 1 copper mine and the world's largest spodumene mine.

The company also has engaged itself in real estate development quite early with a very strong competitive capability. The company currently develops several large-scale real estate projects in Beijing, Hebei, Guangdong, Guangxi, Lianyungang and Changsha.

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