Breath of Fresh Air: China International Trust and Investment Corporation

Led by a former capitalist, a savvy state-owned firm woos foreign investment

Bystanders stared in wonder last summer as the fleet of 20 midnight-blue Cadillacs arrived in downtown Peking amid the clutter of buses and bicycles. The limousines, complete with built-in bars and TV sets, were the newest showpiece of an enterprise that is as remarkable in China as the luxury cars. Known as China International Trust and Investment Corporation, the state-owned firm woos foreign investors with a combination of savvy, sizzle and shrewd business skill. Said CITIC Chairman Rong Yiren, as he took delivery of the first Cadillacs to be acquired by a Chinese organization since the Communists came to power in...

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