New-type Urbanisation
In the new-type urbanisation segment, we have positioned ourselves as the builders of smart cities. We continue to implement China’s regional development strategies, providing smart-city solutions with integrated capabilities in engineering contracting, urban operations, property development and management.
CITIC Construction
is a leading international engineering contracting services provider.
CITIC Environment
is a specialised investment and operational platform for environmental protection.
CITIC Industrial Investment
is a capital operations platform and manages businesses including healthcare, logistics and infrastructure.
CITIC Offshore Helicopter
is a leading general aviation company in China.
CITIC Pacific Properties
focuses on investing, developing, operating and managing mixed-use and commercial properties, and mid- to high-end residential properties.
CITIC Urban Development & Operation
specialises in urban renewal and development operations.
In 2023, the new-type urbanisation segment achieved profit attributable to ordinary shareholders of RMB2.163 billion, an increase of 17%. Excluding the impact of provisions, the operating profit declined by 12%. The sales of real estate projects have been progressing well with key development such as the second phase of Jinan CBD project’s residential part and Guangzhou Harbour City being delivered successfully. Projects like Jiuzhu in Wuxi and Wuhan Harbour City ranked among the top in terms of signed contracts in their respective regions. The integration of real estate and finance continued to be promoted, with the implementation of five projects, including Yalong in Shanghai and Zhongxinli in Shenzhen. Due to the impact of the external operating environment, the construction and engineering and urban operation companies experienced a decline in operating profit. The year-on-year decrease amounted to 45%, reaching RMB1.1 billion. It seized market opportunities along the Belt and Road and deeply integrated itself into the nation’s regional development strategy. It realised newly signed contracts with an effective value of RMB21.3 billion.