China Merchants Group
| State-owned enterprise | |
| Headquarters | Hong Kong |
| Owner | People's Republic of China (under the State-owned Assets Supervision and Administration Commission of the State Council) |
| Website |
www |
China Merchants Group (招商局集团, Zhaoshangju Jituan) is a state-owned corporation of People's Republic of China. It is the major shareholder of China Merchants Holdings (International) (55.4%) as well as China Merchants Bank (18%). The company's headquarters are located on the top floor of China Merchants Tower, Shun Tak Centre, Hong Kong.[1]
Subsidiaries
The company currently owns:
- China Merchants Holdings (International) (SEHK: 144) (55.4%)
- China Merchants Holdings (Pacific) (SGX: C22) (CMHI holds 78.41%)
- China Nanshan Development (Group) Corporation (CMHI holds 37% as major shareholder, government is the ultimate shareholder)
- Shekou Container Terminals Limited (CMHI holds 80% directly, 20% holds by Modern Terminals Limited)
- Modern Terminals Limited (CMHI holds 27% as 2nd largest shareholder)
- China Merchants Shenzhen Xunlong Shipping Co. Ltd
- China Merchants Shekou Industrial Zone Co. Ltd. (wholly subsidiary)
- China Merchants Property Development Co. Ltd. (SZSE: 000024) (Shekou Industrial Zone Co. owned 50.9%)
- China Merchants Technology (100% owned)
- China Merchants Energy Shipping(SSE: 601872) (54.1%)
- Hong Kong Ming Wah Shipping (wholly subsidiary of CM Energy Shipping)
- Hua Jiang Transportation Economic Development Center (wholly subsidiary)
- China Merchants Fiancee Holdings (wholly subsidiary)
- China Merchants Industry Holdings (wholly subsidiary)
- Hoi Tung Marine Machinery Suppliers (wholly subsidiary)
- China Communications Import & Export Corporation (wholly subsidiary)
- China Merchants Chongqing Communications Research & Design Institute Co., Ltd. (wholly subsidiary)
- China Merchants Zhangzhou Development Zone (78%)
- China Merchants Securities (51.72%)
- Hua Bei Expressway
- Sinotrans & CSC Holdings Co. Ltd.
- International Marine Containers (Group) Ltd.
History
China Merchants Steam Navigation Company was a transportation company founded on December 16, 1872, by then Minister of Beiyang Li Hongzhang as part of the Self-Strengthening Movement during the late Qing dynasty. Eighty percent of the start-up capital was provided by native Chinese, making this the first transportation company using modern technology not based on foreign ownership. In 1938, during the Second Sino-Japanese War, the company sold four of its ships Haiyuan, Haili, Haichen and Haiheng to the Hong Kong-based trading company Jardine Matheson & Co.[2]
The company split due to the Chinese Civil War. In 1949, the company's head office was transferred together with the Republic of China government from the mainland to Taiwan. The Taipei-based CMSNC merged with Yang Ming Marine Transport Corporation on July 1, 1995. Meanwhile, the People's Republic of China retained ownership of some of the company's ships and of the Hong Kong subsidiary, and allowed the latter to retain its name (China Merchants Steam Navigation Company Limited) to avoid legal disputes.[3]
At the beginning of the Reform and Opening era, Yuan Geng became the Vice Chairman of CMG in October 1978 and used it to create the Shekou Industrial Zone. Yuan Geng later led the creation of China Merchants Bank in 1986.[4]
References
- ↑ "Contact Us." China Merchants Group. Retrieved on November 8, 2011. "Head Office Address: 40/F., China Merchants Tower, Shun Tak Centre, 168-200 Connaught Rd., C., Hong Kong" - Address in Chinese: "香港 中环 干諾道168-200號信德中心招商局大廈39-40樓"
- ↑ "Britons Buy Chinese Ships". Evening Telegraph. British Newspaper Archive. 6 August 1938. Retrieved 8 July 2014. (Subscription required (help)).
- ↑ "CMG History". China Merchants Group.
- ↑ Xu Shuyuan (2016). Yuan Geng, Father of Shekou. China Pictorial.
External links
- China Merchants Group website—(in English)
- China Merchants Group—(in Chinese)
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