China Merchants Group(CMG) is a leading state-owned conglomerate based in Hong Kong, under direct supervision of State-owned Assets Supervision and Administration Commission of the State Council. By the end of 2015, the company had the total assets of 901.1 billion RMB, the total assets under management of 6.5 trillion RMB. The company's profits hit a record high in 2015, with the revenue of 122 billion RMB, the total profit of 48.9 billion RMB. It has been recognized as Level-A SOE for twelve consecutive years from 2004 to 2015.
CMG, founded in the Self-strengthening Movement in 1872, is a pioneer in China's national industry and commerce. The company set up the first merchant fleet, the first Chinese bank, the first Chinese insurance company etc.,playing an important role in modern China. In 1978, the company made great contributions to the opening-up by solely-investing and developing Shekou Industrial Zone, the first zone in China open to the world, and launching China Merchants Bank and Ping An Insurance Company, the first joint-tock Chinese bank and insurance company respectively.
China Merchant Group is a conglomerate with three business platforms of industry, finance, capital investment and operating.
As for industry platform, CMG covers ports, toll roads, shipping,logistics, zone development, real estate, offshore engineering and trade. CMG actively participates in the national strategy "The Belt and Road", owning 31 ports in 18 countries and districts. In 2015, the company's container throughput reaches 83.35 million TEU( 61.32 million TEU on mainland, occupying 30% of China market share).The throughput of bulk cargoes reaches 353 million tons.
The company is the largest toll road investor and operator in China, which has run 8147 kilometers toll roads, bridges and tunnels in 18 provinces.
Shipping industry is the traditional industry of CMG. By the end of 2015, the company owns a world-class super oil tanker fleet that is constituted by 34 VLCC and a hand-held order of 19 VLCC. CMG also owns the largest fleet of VLOC and LNG, with total capacity of 28.33 million tons.
After Sinotrans＆CSC was incorporated into CMG, CMG's logistics business become world-class, with 75 logistics overseas operating centers. The company conducts influential nation-wide network, which is the largest comprehensive logistics service provider in China.
CMG provided urban development and operation business through China Merchants Shekou(CMSK) and Zhangzhou China Merchants Economic and Technological Development Zone(CMZD). By the end of 2014, CMSK joined Qianhai＆Shekou Free Trade Zone.On December 30th 2015, China Merchants Shekou merged with China Merchants Property and (CMSK) was publicly listed on Shenzhen Stock Exchange, realizing an unprecedented achievement of restructuring in the real estate sector. By the end of 2015, CMSK extended business among 33 cities, with the total construction area of 12.19 million square meters. CMZD is a national economic and technological zone, with a total area of 56.17 square kilometers.
CMG also performs robust in industry and trade. The company owns Hong Kong's biggest ship-repair yard. In 2008, CMG invested a world-class ship repair base in Shenzhen's Mazhou Island. In 2013, CMG purchased Jiangsu Haixin Shipping Heavy Industry's assets and has become a leading producer of offshore platform. China International Marine Containers, established by its biggest shareholder China Merchants Group, is the biggest manufacturer of containers and airport facilities in the world. Another subsidiary of China Merchants Group, Hoi Tung Marine Machinery Suppliers Limited has a mature market network and rich experience in maritime trade.
The financial system of CMG can be characterized as "4+N". "4" refers to banking,securities,insurance and funds. "N" includes financial leasing, non-performing assets management, and financial companies. China Merchants Bank(CMB), established by its biggest shareholder China Merchants Group, is a Chinese leading retail bank. By the end of 2015,CMB had 3202 self-service banks and branches over 130 cities in China, including Hong Kong Branch and two wholly-owned subsidiaries of Wing Lung Bank and China Merchants Bank International. It also has branches in New York, Singapore and Luxembourg, and offices in London and Taipei. China Merchants Securities(CMS) is one of AA level securities in China. By the end of 2015, CMS has 200 operation centers in 99 cities in China. The net revenues of CMS' sales and trading occupied 4.34% in the market share, ranking 7th among competitors. Founded in 2012, China Merchants Capital Management includes China Merchants Funds, Boshi Funds, reaching AUM over 2 trillion RMB. Also, the company is on the process of resuming Renhe Insurance Company that was established in 1875.
As for investment and capital operations, CMG launched China Merchants Investment Development Company which is mainly responsible for overseas business and China Merchants Venture Capital Management which focuses on technology and internet fields. The company speeds up the integration between finance and industry, city and industry, internet and industry as well as technological innovation. CMG sets an "Internet plus" fund of 5 billion RMB and internet incubators, aiming to bridge the cooperation between capitals and technological resources.
China Merchants Group is well-known both in and out of China for its rich history and business strength. The company is now at a new starting point of reforms and innovations to becoming a world-class leading enterprise of international competitiveness.
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