China Resources Holdings Company Limited (), or simply China Resources, is a Chinese
state-owned conglomerate that owns a variety of businesses in
Hong Kong
Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delta i ...
and
Mainland China
"Mainland China" is a geopolitical term defined as the territory governed by the People's Republic of China (including islands like Hainan or Chongming), excluding dependent territories of the PRC, and other territories within Greater China. ...
. Some of its subsidiaries use the name in the form of the
acronym
An acronym is a word or name formed from the initial components of a longer name or phrase. Acronyms are usually formed from the initial letters of words, as in ''NATO'' (''North Atlantic Treaty Organization''), but sometimes use syllables, as ...
CRC.
History
The company started as Liow & Company () 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
The Chinese Civil War was fought between the Kuomintang-led government of the Republic of China and forces of the Chinese Communist Party, continuing intermittently since 1 August 1927 until 7 December 1949 with a Communist victory on m ...
.
It was renamed as China Resources Corporation () in 1948. In 1983, the company was incorporated as China Resources (Holdings) Company Limited ().
Operations
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
China Resources Cement Holdings Limited (CRC) (), parented by China Resources, is a leading cement and concrete producer in Southern China. It is the largest NSP clinker and cement producer in Southern China by production capacity and the second l ...
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.
China Resources Cement Holdings Limited
/ref> It was established in 2003 and incorporated in Cayman Islands.
Rank
According to ''Fortune Magazine'', China Resources was ranked 70th on the 2022 Fortune Global 500
The ''Fortune'' Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by ''Fortune'' magazine.
Methodology
Until 1989, it listed onl ...
list, improved 73 places since 2014.
Investigation
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.
See also
*China Resources Beer
China Resources Enterprise is the subsidiary and the listed company of China Resources Holdings. It is a conglomerate enterprise focusing on retailing, beverage, food processing and distribution, textiles and real estate in Hong Kong and Mainland ...
* CR Vanguard
* China Resources Power
*China Resources Land
China Resources Land Limited is a property developer of China Resources Group. Its business is the development and management of residential and investment properties in Mainland China major cities including Beijing, Shanghai, Shenzhen, Chen ...
*China Resources Gas
China Resources Gas Group Limited (), or China Resources Gas, was incorporated and registered in Hong Kong in 1994, but previous businesses disposed of by 2009 to be developed as a city gas distribution business.
It is a subsidiary of China Re ...
(CR Petroleum Company Limited sold to Sinopec 2007)
*China Resources Cement
China Resources Cement Holdings Limited (CRC) (), parented by China Resources, is a leading cement and concrete producer in Southern China. It is the largest NSP clinker and cement producer in Southern China by production capacity and the second l ...
* China Resources Tower
*China Resources Beverage
China Resources Beverage (Holdings) Ltd. or CR Beverage () is the division of China Resources that sells soft drinks. Its head office is in the north area of the Hi-tech Park (新科技园 ''Xīn Kējì Yuán'') in Nanshan District, Shenzhen.
* China Resources Alcohol Corporation
* Ng Fung Hong
Notes and references
External links
*
{{authority control
Conglomerate companies of Hong Kong
Conglomerate companies of China
Government-owned companies of China
Supermarkets of Hong Kong
Conglomerate companies established in 1948
1948 establishments in Hong Kong