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China Merchants Group
China Merchants Group Limited () is an international state-owned corporation (SOE) of the People's Republic of China. The company is operating under the auspices of the Chinese Ministry of Transport. Founded in 1872 China Merchants Steam Navigation Company in Shanghai, the firm has developed into one of China's leading SOEs since the 1980s and has expanded its global role as a result of China's Belt and Road Initiative in the early 2010s. In the Western media, China Merchants Group is mostly known for being criticized as a tool for China's "debt diplomacy" and its legal disputes with DP World, another port operator, regarding concession rights at the Port of Djibouti. Beginnings and growth (1872-1978) Early History China Merchants Steam Navigation Company was a shipping company founded on 16 December 1872 by the then Governor-General of Chihli (直隸 Zhili) Li Hung-chang (李鴻章 Li Hongzhang) who was also concurrently appointed as the Peiyang Commissioner "Peiyang Ta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State-owned Enterprise
A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the government, control monopoly of the private sector entities, provide products and services to citizens at a lower price and for the achievement of overall financial goals & developmental objectives in a particular country. The national government or provincial government has majority ownership over these ''state owned enterprises''. These ''state owned enterprises'' are also known as public sector undertakings in some countries. Defining characteristics of SOEs are their distinct legal form and possession of financial goals & developmental objectives (e.g., a state railway company may aim to make transportation more accessible and earn profit for the government), SOEs are government entities established to pursue financial objectives and dev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
