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Founders

HISTORY & HERITAGE

China International Economic Consultants was established on October 31, 1981

荣毅仁 — 名誉董事长

Rong Yiren

Honorary Chairman

Former Vice President of China, Founder of CITIC Group

荣毅仁题字：发展中国的咨询事业，为决策的科学化、民主化服务

Bi Jichang

Chairman

Jing Shuping

General Manager

经叔平题字：朝着国际化、多元化、专业化的目标奋进
First Board Meeting

First Board Meeting · October 31, 1981

“Since implementing the open-door policy, we have felt a lack of understanding about the outside world. Establishing such a company is essential for developing international exchanges. This is the first major consulting company nationwide, and I believe it will promote mutual understanding between China and the world.”

—— Jiang Zemin (then Deputy Director of the State Import and Export Commission)

Pioneering 'Firsts' in China's Reform and Opening Up

  1. 1981

    First 'China Investment Guide'

    First published in Hong Kong by Economic Reporter in 1981. Republished globally by Longman UK in 1984, widely welcomed by governments and business leaders worldwide.

  2. 1982

    First Aircraft Leasing Service

    China's first leveraged lease for civil aviation aircraft. CIEC provided legal advisory services for introducing the first Boeing aircraft from the US to China.

  3. 1982

    First Market Research Commission

    Commissioned by the Sino-American Pingshuo Coal Mine joint venture to forecast demand and pricing for thermal coal in the Far East region.

  4. 1982

    First Overseas Bond Issuance Service

    Provided advisory services for CITIC's issuance of 10 billion yen in private bonds in Japan — the first overseas bond issuance in the history of the People's Republic of China.

  5. 1985

    First Law Firm

    Founded China's first law firm approved by the Ministry of Justice — CITIC Law Firm, based on CIEC's legal advisory department.

  6. 1986

    First Feasibility Study Report

    Introduced feasibility study methodology from UNIDO. Published 'Economic Evaluation Methods for Sino-Foreign Joint Ventures,' filling a national gap in project evaluation standards.

  7. 1987

    First Accounting Firms

    Ministry of Finance approved CIEC to establish CITIC Accounting Firm, covering audit, asset valuation, and consulting services.

  8. 1992

    First Joint Venture Accounting Firms

    CIEC was approved to establish CITIC Coopers & Lybrand, a joint venture with Coopers & Lybrand UK — the fastest-growing among the six joint venture accounting firms at the time.