In mainland China, CITIC Limited is focused on developing and managing mixed-use properties and engages in urban renewal and development projects. In Hong Kong, we develop residential properties and own and operate a portfolio of commercial and industrial properties. These businesses are mainly conducted through the following two wholly-owned subsidiaries. CITIC Pacific Properties focuses on developing and investing in mixed-use and commercial properties projects, and mid- to high-end residential properties. CITIC Urban Development & Operation specialises in urban renewal and development. Both companies are of CITIC Limited. We also hold a 10% stake in China Overseas Land & Investment Limited.
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