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Company type | State-owned enterprise | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Industry | Conglomerate | ||||||||||
Founded | 1938 | ||||||||||
Headquarters | China Resources Headquarters Shenzhen, Guangdong, China | ||||||||||
Area served | Mainland China Hong Kong | ||||||||||
Key people | Chairman: Fu Yuning | ||||||||||
Revenue | US$ 126.2 billion (2023) [1] | ||||||||||
US$ 3.797 billion (2023) [1] | |||||||||||
Total assets | US$ 367.0 billion (2023) [1] | ||||||||||
Number of employees | 394,112 (2023) [1] | ||||||||||
Subsidiaries | China Resources Beer China Resources Cement China Resources Land China Resources Microelectronics China Resources Power China Resources Vanguard | ||||||||||
Chinese name | |||||||||||
Simplified Chinese | 华 润 | ||||||||||
Traditional Chinese | 華 潤 | ||||||||||
| |||||||||||
Website | www |
China Resources Holdings Company Limited (Chinese : 华 润 ), or simply China Resources, is a Chinese state-owned conglomerate that owns a variety of businesses in Hong Kong and Mainland China. Some of its subsidiaries use the name in the form of the acronym CRC.
The company started as Liow & Company (Chinese :聯和公司) in Hong Kong in 1938. Its original purpose was to raise funds and purchase supplies and equipment for the Eighth Route Army and later People's Liberation Army, then engaged in the Chinese Civil War. [2] It was renamed as China Resources Corporation (Chinese :華潤公司) in 1948. In 1983, the company was incorporated as China Resources (Holdings) Company Limited (Chinese :華潤(集團)有限公司).
The company's main business focus is the export of mainland Chinese products (including energy) to Hong Kong. Its retail operations are organised under the China Resources Retail group, and include Chinese Arts & Crafts; it also runs a number of supermarkets in Hong Kong, originally under the CRC name, but now rebranded as Vanguard. It also owns Ng Fung Hong, the monopoly meat importer into Hong Kong.
China Resources Cement is the largest NSP clinker and cement producer in Southern China by production capacity and the second largest concrete producer in China by sales volume. [3] [4] It was established in 2003 and incorporated in Cayman Islands.
According to Fortune Magazine, China Resources was ranked 70th on the 2022 Fortune Global 500 list, improved 73 places since 2014.
In 2013 the firm and its chairman at the time, Song Lin, who also held high government rank, was reported to be under investigation regarding the purchase of coal mines in Shanxi province for 9.9 billion RMB that did not produce any coal for several years after the acquisition. There are substantial reserves of coal in the mines, but exploiting them requires substantial investments. Meanwhile, coal from newly opened strip mines in Mongolia had depressed the market. The deal raised questions about the leverage that large, state-owned firms had to borrow money at low interest for projects of dubious profitability and about where the money went and why. [2]
CLP Group and its holding company, CLP Holdings Ltd, also known as China Light and Power Company, Limited, is an electricity company in Hong Kong. Incorporated in 1901 as China Light & Power Company Syndicate, its core business remains the generation, transmission, and retailing of electricity. It also has businesses in a number of Asian markets as well as EnergyAustralia in Australia. It is one of the two main electricity power generation companies in Hong Kong, the other being Hongkong Electric Company.
CITIC Group Corporation Ltd., formerly the China International Trust Investment Corporation (CITIC), is a state-owned investment company of the People's Republic of China, established by Rong Yiren in 1979 with the approval of Deng Xiaoping. Its headquarters are in Chaoyang District, Beijing. As of 2019, it is China's biggest state-run conglomerate with one of the largest pools of foreign assets in the world. In 2023, the company was ranked 71st in the Forbes Global 2000.
The People's Insurance Company (Group) of China Limited, known as PICC Group or just PICC, is a Chinese listed insurer. The Chinese Central Government is the controlling shareholder.
China Resources Petroleum Company Limited, was a subsidiary of China Resources (CRC), and was a major petroleum product company in China 1991–2007. CRC was created in 1991 and had operations throughout Southeast Asia and based in Hong Kong. CR Enterprises disposed Dongguan China Resources Petrochems to Sinopec at the end of 2005, the mainland petrochemical services in October 2006 and the business in Hong Kong to Sinopec in 2007.
Chow Tai Fook group is a Hong Kong–based, privately-owned conglomerate with holdings in the jewellery, property development, hotel, department store, transportation, energy, telecommunications, port, casino, and other businesses. Despite the holding companies of the group, namely Chow Tai Fook Capital Limited, Chow Tai Fook (Holding) Limited, Chow Tai Fook Enterprises Limited, etc. being privately owned, the group has been partially listed on the stock market via associate company New World Development and subsidiary Chow Tai Fook Jewellery Group Limited. As of 31 December 2018, New World Development was ranked as the 47th-largest company by market capitalization on the Stock Exchange of Hong Kong, which was HK$105.68061 billion.
China National Coal Group Co., Ltd., known as China Coal Group, is a Chinese coal mining conglomerate that was supervised by the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council. It was the second largest state-owned coal mining enterprise in the mainland China, and the third largest in the world, just after Shenhua Group in 2008, according to a website quoting Xinhua News Agency. It is engaged in coal production and sales, coal chemicals, coal mining equipment manufacturing, coal mine design and related engineering services.
Anhui Conch Cement Co., Ltd. known also as Anhui Conch or Conch Cement, is the largest cement manufacturer or seller in the mainland China, headquartered in Anhui Province. Its business scope covers the manufacture and sales of cement and clinker.
China Taiping Insurance Holdings Company Limited (CTIH) formerly China Insurance International Holdings Company Limited (CIIH), is a Chinese insurance conglomerate. The company has strong Chinese Central Government background despite being incorporated in Hong Kong. It is considered as a red chip company.
Established in 1971, Sino Group comprises three listed companies – Sino Land Company Limited, Tsim Sha Tsui Properties Limited, Sino Hotels (Holdings) Limited – and private companies held by the Ng Family.
China Mobile Hong Kong Company Limited or CMHK, is a wholly owned subsidiary of China Mobile. The company was incepted in January 1997 and was the first PCS operator to launch such services in Hong Kong. CMHK is currently the largest telecommunications operator in Hong Kong.
China Aerospace International Holdings Limited is a Hong Kong incorporated holding company. The company itself is a subsidiary of China Aerospace Science and Technology Corporation and a listed company on the Stock Exchange of Hong Kong. It is a red chip company, but not part of the "red chip index" of the stock exchange.
China Resources Vanguard, doing business as China Resources Vanguard Shop or Vanguard, operates the supermarket chains of China Resources. It is the third-largest supermarket chain in Hong Kong. As of 31 December 2014, there are 4866 shops operating in Hong Kong and the mainland Chinese provinces / municipalities of Guangdong, Zhejiang, Jiangsu, Shanghai, Tianjin and Beijing.
Sincere Department Store is a department store under the Sincere Company Limited and one of the oldest department chains in Hong Kong. Prior to 1949, its largest operation was in Shanghai, and along with Wing On, Sun Sun and Da Sun (大新公司) was one of the "four great department stores" of Shanghai, and therefore, China generally.
Ng Fung Hong is a Chinese company, owned by China Resources and listed in Hong Kong. It describes itself as the largest food distributor in Hong Kong, with interests in food distribution; food production, processing and trading; food retail and supermarket; marine fishing; and abattoir operations.
Li Jianjun is an investigative journalist in the People's Republic of China from Shanxi province. He is best known for speaking out against the corruption of the state-run conglomerate China Resources located in Hong Kong. In 2014 he was recognized by Reporters Without Borders as one of the "100 Information Heroes".
Sino United Publishing (Holdings) Limited is Hong Kong's largest integrated publishing group, formed in 1988 from the integration of some of the historic publishing agencies. Its business includes publishing, distribution, retail, printing, RFID packaging design, art business, cultural exchanges. It has subsidiaries and affiliated agencies throughout Hong Kong and Macao, mainland China, Singapore, Malaysia, as well as in North America, Europe etc.
China Everbright Group is a Chinese state-owned enterprise. Everbright Group was a subsidiary of Central Huijin Investment. The Ministry of Finance of China owned the rest of the stake, which Central Huijin acquired on 8 December 2014.
U Select was a chain of supermarkets in Hong Kong operated by China Resources Vanguard, originally in partnership with Tesco. At least one third of the products sold in the store came from overseas supermarket chains. As part of Tesco's decision to cease international product sales due to Brexit, U Select instead started stocking Coles products from December 2021, and also begun stocking Morrisons products from May 2022. The company closed all stores in November 2024 due to declining sales.
CSC Financial Co., Ltd. trading as China Securities, is a Chinese investment bank and brokerage firm established by CITIC Securities and China Jianyin Investment in 2005 in a 60–40 ratio, as a successor of bankrupted China Securities Co., Ltd. (CSC). However, the firm now majority owned by Jianyin Investment's parent company Central Huijin Investment and an asset managing subsidiary of Beijing Municipal People's Government.
Peking University Resources (Holdings) Co., Ltd. known also as PKU Resources is a Chinese listed company. The company was incorporated in Bermuda and listed in the Hong Kong Stock Exchange. The company is an indirect non-wholly-owned subsidiary of Peking University, which in turn under the administration of the Ministry of Education. The company is broadly considered a state-owned enterprise of China. For the same reason, PKU Resources is a red chip company.