CITIC Pacific has a proud history as a leading China-focused company. Although we have multiple businesses, we have three main ones: special steel manufacturing, iron ore mining and property development in mainland China.
Together, these businesses represented over 70% of CITIC Pacific's total assets at the end of 2012 and are the destination for our current and planned capital expenditure. CITIC Pacific may also consider investments in industries which are upstream and downstream from steel manufacturing and iron ore mining respectively if such investments have synergies with, or supplement and enhance the value, of our major businesses.
Our other businesses are now principally two tunnels in Hong Kong, power generation and coal mining assets in China, Dah Chong Hong and CITIC Telecom International. With the exception of our interest in the Western Harbour Tunnel, we now have a majority interest or managerial control of all of our material business activities, and this is an important part of our strategy.
