Xinli Energy Development Co., Ltd. was initiated by Mr. Rong Yiren, former Vice President of China, and was established with the approval of the State Council. Established by China International Trust and Investment Company and the former Ministry of Water Resources and Electric Power, holding 65% and 35% of the shares of the company respectively, it was incorporated in Beijing on September 2, 20 14. 1987.
Due to the need of strategic development, CITIC Pacific acquired 35% equity held by China Development and Investment Corporation, and Xinli Energy became a wholly-owned subsidiary of CITIC Pacific Limited, which was responsible for managing CITIC Pacific's energy business.