China Merchants Group

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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.cmhk.com/en/

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[edit]

The company currently owns:

History[edit]

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, which began in 1927. The Taipei-based CMSNC merged with Yang Ming Marine Transport Corporation on July 1, 1995.

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.[3]

References[edit]

  1. ^ "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"
  2. ^ "Britons Buy Chinese Ships". Evening Telegraph. British Newspaper Archive. 6 August 1938. Retrieved 8 July 2014. (Subscription required (help)). 
  3. ^ Xu Shuyuan (2016). Yuan Geng, Father of Shekou. China Pictorial. 

External links[edit]