China Resources
| Company type | State-owned enterprise |
|---|---|
| Industry | Conglomerate |
| Predecessor | Liow & Company |
| Founded | 1948 |
| Headquarters | Hong Kong , China |
Area served | Hong Kong and Mainland China |
Key people | Song Lin (former chairman) |
| Products | Retail, energy, construction materials, meat import, others |
| Owner | Chinese government |
China Resources Holdings Company Limited (), commonly known as China Resources, is a state-owned Chinese conglomerate with a broad portfolio of enterprises operating throughout Hong Kong and Mainland China. Several of its subsidiaries are recognized by the abbreviation CRC.
History
The organization was originally established in 1938 under the name Liow & Company () in Hong Kong. Its primary mission at that time was to secure funding and supply materials for the Eighth Route Army and subsequently the People's Liberation Army during the period of the Chinese Civil War. In 1948, it adopted the name China Resources Corporation (), and later, in 1983, it was formally incorporated as China Resources (Holdings) Company Limited ().
Operations
China Resources primarily focuses on exporting goods from mainland China, including energy products, to Hong Kong. Its retail division, operated through China Resources Retail, includes Chinese Arts & Crafts and a chain of supermarkets in Hong Kong that were originally marketed under the CRC brand but have since been renamed Vanguard. The company also controls Ng Fung Hong, which holds exclusive rights as the sole meat importer in Hong Kong.
In the construction materials sector, China Resources Cement stands as the largest producer of NSP clinker and cement by capacity in Southern China, and ranks second nationwide by concrete sales volume. Founded in 2003 and registered in the Cayman Islands, this subsidiary plays an important role within the building materials industry.
Rank
As reported by Fortune Magazine, China Resources achieved the 70th position on the 2022 edition of the Fortune Global 500 list, marking a rise of 73 places since 2014.
Investigation
In 2013, both China Resources and its then-chairman Song Lin, who also occupied a senior government role, faced scrutiny related to a 9.9 billion RMB acquisition of coal mines located in Shanxi province. These mines remained inactive for several years despite containing significant coal reserves. The development of these assets required substantial capital investment amid low market prices influenced by Mongolian strip mining operations. This transaction sparked debate regarding state-owned firms’ ability to obtain low-interest loans for projects with uncertain financial returns.
See also
- China Resources Alcohol Corporation
- China Resources Beer
- China Resources Beverage
- China Resources Cement
- China Resources Gas (CR Petroleum Company Limited sold to Sinopec 2007)
- China Resources Land
- China Resources Microelectronics
- China Resources Mixc Lifestyle
- China Resources Power
- China Resources Tower
- China Resources Vanguard
- Ng Fung Hong
- Vanke