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CITIC Group offers new, comprehensive platform

By Zhu Wenqian | chinadaily.com.cn | Updated: 2018-09-17 19:42
A security guard is seen under the logo of CITIC Securities at a branch of the security brokerage house in Shanghai. [Photo/VCG]

CITIC Group Corp, a major Chinese company that integrates financial and retail services, released a new comprehensive platform on Monday, and customers will be able to manage their rights and interests in one account and use reward exchange plans.

CITIC Group said it plans to further expand  in the consumption and retail sectors, and transform from a traditional enterprise to a digital one, by utilizing big data and block chain technologies.

The platform combines various sub-affiliates of the group, such as China CITIC Bank, China Securities and CITIC Press Group, as well as other companies in different sectors.

A group of leading enterprises from different sectors is expected to join the platform. They include IHG Group, Capital Airports Holding Co, China Eastern Airlines Corp Ltd, aviation data providers VariFlight, McDonald's Corp, China's express giant SF Express, online car rental service provider yongche.com, and French hypermarket chain Carrefour SA.

"The new platform is an important project that caters to the latest demand and trend of consumption, and we will further push forward the transformation and upgrade of CITIC by the internet way of thinking," said CITIC Group chairman Chang Zhenming.

"We would like to give full play to our advantages in both finance and retail, and combine the services of finance, culture, catering, health and community services together through this one-stop platform," he said.

On the platform, consumers will be able to register for one account and become a member of multiple companies, and those companies will recognize memberships for each other. For instance, they can use their credit card scores at  CITIC Bank to exchange for hamburgers at McDonald's or exchange for electronic books.

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