Citic Group, China's state owned conglomerate, is shifting strategy. It wants to build up stronger business portfolios in digital finance and non-financial sectors. Xia Cheng caught up with the group's vice chairman, Wang Jiong, and started by asking what matters to Citic's future businesses.

WANG JIONG VICE CHAIRMAN, CITIC GROUP "We used to have only traditional banking and financial services. In the future, we focus on building synergies between our businesses and China's new economic sectors, and between our China operations with overseas ventures. We are also looking at China's internet plus strategy and new businesses in that area. We see lots of opportunities in driving new ventures and innovation in our management model."

XIA CHENG "Citic has been buying non-financial assets, like Mcdonald's China business. We've also seen your tire products in Formula one. What's next in that area, what are you buying next?"

WANG JIONG VICE CHAIRMAN, CITIC GROUP "The scope of our non-financial businesses is wide. But now we focus on strategic redirection. We want to combine businesses in both cyclical and counter cyclical industries for future profits. Consumer sector is a counter-cyclical industry. We want to drive innovation in that area. We are also open to global opportunities to lift our value in a shared progress with stakeholders."

XIA CHENG "With the new brand strategy, Citic is going global and going smart. One key area to look at is fin-tech. How do you look at some of the key technologies like Blockchain?"

WANG JIONG VICE CHAIRMAN, CITIC GROUP "The development of internet finance is less about building platforms than seeking integration with our industry. We have our own cloud and industry alliance for technology. Now we focus more on seeking breakthroughs in applying those technologies into our businesses. We are also looking at the internet of things and trade development. Blockchain is a hot topic but we'd like to refine our current business first. We have some interest in cryptocurrency, but the development in that area relies on technology, policy and management. We will continue to look at this sector and look for opportunities."