The founder of CITIC Bank is Rong Yiren. Rong Yiren was born in 19 16. He was a famous entrepreneur and politician who responded to the call of the state in Rong Yiren in 1979 and led the establishment of China International Trust and Investment Company, the predecessor of CITIC Group, and served as the first chairman and general manager. At that time, China's reform, opening up and economic development faced great opportunities and challenges. Rong Yiren has keenly grasped the importance of introducing foreign capital and technology to promote national modernization. During his work in CITIC Group, Rong Yiren used the international advanced experience for reference, combined with the reality of China, extensively carried out economic and technological cooperation between China and foreign countries, introduced capital and technology, set up industries in China, made overseas investments and issued bonds. These pioneering work not only laid a solid foundation for CITIC Group, but also made important contributions to China's reform and opening up. CITIC Bank is a national commercial bank with a long history and rich experience. Its full name is China CITIC Bank Co., Ltd., and its headquarters is in Beijing. Founded in 1987, it was formerly CITIC Industrial Bank, and was renamed at the end of 2005. The main shareholder of CITIC Bank is China CITIC Co., Ltd., which holds most of the shares of the bank. In addition, BBVA also bought a 5% stake in China CITIC Bank, and has the option to increase its holdings.