China Poly Group Corporation ( zh, s=中国保利集团公司, p=Zhōngguó Bǎolì Jítuán Gōngsī) is a
state owned
State ownership, also called public ownership or government ownership, is the ownership of an industry, asset, property, or enterprise by the national government of a country or state, or a public body representing a community, as opposed to a ...
Chinese business group among 102 central
state owned enterprises
A state-owned enterprise (SOE) is a business entity created or owned by a national or local government, either through an executive order or legislation. SOEs aim to generate profit for the government, prevent private sector monopolies, provide goo ...
under the supervision of
(SASAC).
It is both primarily engaged in representing the Chinese defense manufacturing industry in international sales and the world's third largest art auction house (behind
Sotheby's
Sotheby's ( ) is a British-founded multinational corporation with headquarters in New York City. It is one of the world's largest brokers of fine art, fine and decorative art, jewellery, and collectibles. It has 80 locations in 40 countries, an ...
and
Christie's
Christie's is a British auction house founded in 1766 by James Christie (auctioneer), James Christie. Its main premises are on King Street, St James's in London, and it has additional salerooms in New York, Paris, Hong Kong, Milan, Geneva, Shan ...
).
[Bowley, Graham and Barboza, David]
"An Art Power Rises in China, Posing Issue for Reform"
, ''The New York Times'', 16 December 2013. Retrieved 5 July 2016.
History
With the approval of the State Council, China Poly Group Corp. was set up on the basis of
Poly Technologies, Inc. in February 1992. Poly Technologies was formed in 1984 as an arms-manufacturing wing of the
People's Liberation Army
The People's Liberation Army (PLA) is the military of the Chinese Communist Party (CCP) and the People's Republic of China (PRC). It consists of four Military branch, services—People's Liberation Army Ground Force, Ground Force, People's ...
.
Poly Corporation Headquarters
The Poly Corporation Headquarters in
Beijing
Beijing, Chinese postal romanization, previously romanized as Peking, is the capital city of China. With more than 22 million residents, it is the world's List of national capitals by population, most populous national capital city as well as ...
, designed by
Skidmore, Owings & Merrill
SOM, an initialism of its original name Skidmore, Owings & Merrill LLP, is a Chicago-based architectural, urban planning, and engineering firm. It was founded in 1936 by Louis Skidmore and Nathaniel Owings. In 1939, they were joined by engineer ...
(SOM), serves as a central hub for the company's subsidiaries. The building features a 90-meter-tall atrium, enclosed by the world's largest cable-net-supported glass wall, creating a visually striking centerpiece. The structure incorporates sustainable design elements, such as a double-layer low-e glass facade and a roof garden to enhance energy efficiency. Additionally, the building houses the Poly Museum, which showcases China's cultural antiquities, suspended within the atrium by innovative engineering.
Procurement actions during the COVID-19 pandemic
Group entities were active in procurement during the
COVID-19 pandemic
The COVID-19 pandemic (also known as the coronavirus pandemic and COVID pandemic), caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), began with an disease outbreak, outbreak of COVID-19 in Wuhan, China, in December ...
. Figures from China Customs show that some 2.46 billion pieces of epidemic prevention and control materials had been imported between 24 January and 29 February, including 2.02 billion masks and 25.38 million items of protective clothing valued at 8.2 billion yuan ($1 billion). Press obtained internal documents showing that the group, together with other Chinese companies and state-owned enterprises – such as
Country Garden
Country Garden () is a property development company based in Guangdong, China, owned by Yang Guoqiang's family. It ranked 206th in Fortune Global 500 list of 2023. Country Garden features a market capitalization of over US$29.84 billion as of 20 ...
and
Greenland Holdings
Greenland Holdings Corp., Ltd. known as Greenland Group is a Chinese real estate developer. It was founded as a state-owned enterprise. , the top 10 shareholders of the listed company owned a combined 88% shares, with some state-owned enterprises ...
– had an important role in scouring markets in countries around the world to procure essential medical supplies and equipment. The company said its operation was staff-led, and was "driven out of pure compassion for our people who have friends and family in the Wuhan region".
Subsidiaries
*
Poly Property
Poly Property Group Co., Ltd., is a Hong Kong incorporated Chinese property developer, with its major businesses include property development, investment and management. It mainly develops mid to high-end residential and commercial properties i ...
*
Poly Real Estate
Poly Real Estate Group Co., Ltd. is a Chinese real estate developer, and a subsidiary of state-owned China Poly Group. It principally engaged in the design, development, construction and sale of residential and commercial properties, as well as ...
*
Poly Technologies
* Poly Culture
* Poly Theatre
* Poly Auction
References
External links
*
{{authority control
Conglomerate companies of China
Government-owned companies of China
Companies based in Beijing
Conglomerate companies established in 1993
Chinese companies established in 1993
Defence companies of the People's Republic of China