China’s CITIC Pacific (0267.HKG) has raised US$5.1 billion in financing to buy some US$36 billion in assets from its state-owned parent company, CITIC Group, Reuters reported, citing a Wednesday company statement. The deal, which is essentially the injection of CITIC Group’s main operating business into the Hong Kong-listed company, is part of a wide-ranging reform of China’s state-owned enterprises. The 15 strategic investors funding the deal include a group of Chinese state-backed entities purchasing about US$4.1 billion worth of shares and overseas investors buying about US$1 billion.