CITIC Daxie Development Company was founded on 26th Oct., 1993. It is a wholly owned subsidiary of CITIC Group. The registered capital is RMB350million. The company's organ of power is its Board of Directors. Mr. Wang Jiong is Chairman of the Board, and Cai XiLiang is the General Manager.

On 5th Mar. 1993, the State Council approved CITIC Group of taking vast tract development of Daxie Island and enjoying preferential policies eligible to the state-level economic and technical development zones.

In line with government laws, regulations and CITIC Group's strategies, CITIC Daxie Development Co. has attracted and utilized foreign capital, introduced advanced technologies and managerial experience, carried out economic and technological cooperation both domestic and abroad. Focused on the deepwater port development, wharves, storage, transportation, shipbuilding and shipyard, high-tech industry, real estates, finance, communication, trading, commerce, travel, entertainment and other tertiary industry are also developed vigorously. Upon over ten years' development, CITIC Daxie Development Company keeps on expanding its scale. Currently it has 6 wholly owned subsidiaries and 5 joint stock companies including 2 joint venture companies. By the end of 2004, the total assets of the company have reached RMB1.46 billion.