CITIC Group focuses on resource and real estate sectors

China CITIC Group will shift its focus to the resource and real estate industry to diversify the existing businesses, citing Kong Dan, the board chairman of the Beijing-headquartered group as saying.

CITIC Group, which is currently mainly engaged in financial operations, plans to list its real estate sector next year after completing restructuring, according to Kong. "We have merged with two property companies, with a third strategic investor being in talks." But the group has not decide whether to list on the domestic market or the Hong Kong market.

CITIC Group comprises CITIC Bank<601998><998>, CITIC Securities<600030> and CITIC Pacific<267>, with more than 70% assets in financial sectors.