China Resources Group Holds 80th Anniversary Banquet and Releases White Paper on Participation in Construction of Guangdong-Hong Kong-Macau Greater Bay Area
2018-11-24,General Office

On November 23rd, China Resources Group held its 80th anniversary banquet in Hong Kong and on the same day issued the White Paper of China Resources Group' participation in the Construction of Guangdong-Hong Kong-Macao Greater Bay Area, which firstly put forward the participation in the overall thinking and construction planning for the Greater Bay Area, promoting innovation and transformation to reshape the group’s business in Hong Kong. 

Nearly 200 attendees from Hong Kong business community and officiating guests held witness at the banquet of the issue of the White Paper, including Mr. Tung Chee-hwa, Vice-Chairman of the CPPCC, Mrs. Carrie Lam Cheng Yuet-ngor, Chief Executive of the Hong Kong SAR, Mr. Wang Zhimin, Director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region, Mr. Zhang Jianzong, Chief Secretary for Administration HKSAR, Mr. Xiefeng, Commissioner of the Office of The Commissioner of The Ministry of Foreign Affairs of The People's Republic Of China in The Hong Kong Special Administrative Region, Commander Tan Benhong, People's Liberation Army Hong Kong Garrison, Mr. Qiuhong, Deputy-director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region, Mr. Zhao Jiankai, Deputy Commissioner of The Office of the Commissioner of The Ministry of Foreign Affairs of The People's Republic Of China in The Hong Kong Special Administrative Region, and Political commissar of People’s Liberation Army Hong Kong Garrison Mr. Cai Yongzhong. 

Group Chairman Fu Yuning extended his gratitude to all the distinguished guests. In his speech he said: "Hong Kong is the birthplace of CR Group. Through thick and thin, CR Group has grown up together with Hong Kong, and strived to get involved in the economy and development of Hong Kong all along in the past 80 years." He also noted that CR Group has grown from a little-known small business into a diversified business group that ranks among the Fortune 500, attributing which to the increasingly ascendant development of motherland, as well as the unique location and economy of Hong Kong and its strength in rule of law. 

Looking ahead, Fu believed that Hong Kong would assuredly usher in new opportunities in building a shared homeland in the Greater Bay Area and building a world-leading Bay Area and a world-class city cluster. He added, "CR Group, as a Chinese-funded enterprise rooted in Hong Kong, should assume a higher responsibility and actively support Hong Kong's integration into the national strategy. CR Group will continue to improve its development quality and market position in the Greater Bay Area, increase investment in people's livelihood oriented industries, accelerate the distribution of new industries, reshape CR Group' Hong Kong business through promoting self-transformation and innovation; and continuously contribute to the country's development and long-term prosperity and stability of Hong Kong."

On behalf of the Hong Kong SAR Government, Mrs Carrie Lam Cheng Yuet-ngor expressed her congratulations on the 80th anniversary of the establishment of CR Group. She expressed that CR Group is one of the contributors to Hong Kong's economic take-off and a pioneer among Chinese-funded enterprises into the international capital market and among mainland enterprises to go global. She believed that, as the country's economic development has entered a new era, with advances in construction of the Belt and Road and the development of the Greater Bay Area, CR Group will continue to forge ahead into the future, give full play to the advantages of enterprises, seize opportunities, meet the development needs of both the Mainland and Hong Kong, and get more business opportunities.

Mr.Qiu Hong said that as a company founded in Hong Kong and growing with the city, CR Group has always kept in mind its commitment and mission to Hong Kong. It has made outstanding contributions to promoting economic cooperation between Hong Kong and the Mainland and ensuring Hong Kong's prosperity and stability.

With a chorus entitled Shared Home, Chairman Fu and nine officiating guests jointly released the White Paper on China Resources Group's Participation in Construction of Guangdong-Hong Kong-Macao Greater Bay Area, officially disclosing the overall thinking and construction planning of CR Group in the construction of the Greater Bay Area.

After 80 years of hard work, the Greater Bay Area has become the location of core assets and the largest source of revenue and profits for CR Group. By the end of 2017, the Greater Bay Area contributed 27.9% of turnover, 24.6% of total profit, and 36.9% of total assets in CR Group.

According to the White Paper, CR Group's strategic positioning in the development of the Greater Bay Area lies in making full use of Hong Kong's advantages, promoting the development of the Mainland and promoting the transformation of CR Group' business through the integration of the three places, i.e., Guangdong Province, Hong Kong, and Macao. In the future, it is expected to comprehensively enhance the development quality and market position of CR Group in the Greater Bay Area, focus on increasing investment in environmental protection, health care, medical care, and real estate business to reshape its business in Hong Kong; obtain a breakthrough in the following directions: exploiting its own strengths to lead a better future lifestyle, building a Hong Kong-mainland integration ecological circle, and developing high-tech industries.

It is planned that by 2025, the annual growth rate of CR Group's turnover from the Greater Bay Area will be higher than the average level, and the average annual growth rate of total profit is also expected to be higher than the annual growth rate of turnover in the Greater Bay Area; making the Greater Bay Area the growth pole in quality development and the dynamic zone of the profit contribution for CR Group.