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Our History
  • Red CR


  • General Trading Agency Phase


  • Self-Operating Business Phase


  • Industrial Transformation


  • Industrial Development Phase

    2001- Current

Red CR



In order to unite democrats resisting the Japanese aggression in Hong Kong and overseas, to collect, store and manage contributions and materials donated in support anti-Japanese war effort, and to procure military supplies and medicines for anti-Japanese bases, CR’s predecessor, Liow & Co., was established in Hong Kong under the leadership of the previous generation of proletarian revolutionaries, Zhou Enlai and Chen Yun, headed by Yang Lianan. (Left: Founder, Yang Lianan)


Liow & Co. was restructured, expanded and renamed China Resources. The name is composed of two Chinese characters, with the first meaning China and the second adopted from the style name of Mao Zedong. The combination of the two characters means, “The Great Land of China is Endowed with Abundant Resources” Mr. Qian Zhiguang was appointed as the first Chairman of the Board. (Left: The first Chairman, Qian Zhiguang)

During the War of Resistance against Japan (1937-1945)

Liow & Co. actively participated in the large-scale anti-Japanese fund-raising activities in cooperation with the China Defense League under the leadership of Madame Soong Ching-Ling, transporting donated materials to anti-Japanese bases and purchasing military supplies and medicines for the Eighth Route Army and the New Fourth Army, as well as helping to develop a united front. (Left: Madame Soong Ching-Ling and the China Defense League Committee Members)

During China’s War of Liberation (1945-1949)

During this period, CR managed to break through the blockade and delivered urgently needed supplies it had procured to mainland China, providing strong support to several critical campaigns, up till the liberation of the whole of China. (Left: Transporting supplies during the War of Liberation.

1948 ~ 1949

In spite of numerous hardships, CR sent more than 350 well-known democrats and more than 700 cultural celebrities and patriotic overseas Chinese from Hong Kong to the Northeast Liberated Areas in four different groups, ensuring the successful opening of the first session of the Chinese People's Political Consultative Conference (CPPCC) conference of the New China. (Left: Patriotic democrats transferred by CR from Hong Kong to China. Photo taken prior to the trip.)


General Trading Agency Phase



CR initiated and organized the first Chinese Export Commodities Fair, preluding the Canton Fair. (Left: In 1956, CR Chairman, Zhang Ping (far right) organising the Canton Fair in Guangzhou)


Ng Fung Hong, a subsidiary of CR, was responsible for the “triple express trains” transporting fresh and frozen food to Hong Kong, and ensuring Hong Kong had an adequate food supply. (Left: Routes of the “triple express trains”)

Early 1970s

CR assisted with the transportation of oil produced in mainland China to Hong Kong, effectively alleviating the oil crisis in Hong Kong. (Left: In the early 70s, CR assisted with transporting mainland China’s oil into Hong Kong, alleviating Hong Kong’s oil crisis.)


CR was the first to adopt the trading model of “processing of imported materials for export, processing with supplied design/samples, assembly of supplied parts, compensation trade”, setting a precedent for the transfer of manufacturing from Hong Kong to mainland China. (Left: A Dongguan factory during the early period of reform and market opening)


Self-Operating Business Phase



CR transformed its business from trading agency to self-operating businesses, developing medium and long-term investment projects and investing heavily in the retail, real estate, power and infrastructure industries. Investment projects became increasingly large-scale in scope and specialized in nature, laying a solid foundation for the development of CR into one of the most solid, multi-business enterprises in Hong Kong and mainland China. (Left: In 1988, CR collaborated with Cheung Kong (Holdings) Ltd. on the Tin Shui Wai Project.)


With the completion of China Resources Building in Hong Kong, CR was restructured into China Resources (Holdings) Co., Ltd., starting to establish a modern enterprise system. (Left: In 1983, China Resources Building was completed.)


Industrial Transformation



China Resources invested in Winland, a listed company at that time, and was renamed as China Resources Enterprise. It became the first company to be publicly listed under CR, and signals the entry of China-affiliated enterprises into the capital market. (Left: In 1992, China Resources Group invested in the then-listed Winland.)

Mid and Late 1990s

Ng Fung Hong, China Resources Beijing Land Limited and China Resources Logic International were listed. CR started touching base with international capital, entering the stage of expansion, taking advantage of the capital market. (Left: In 1993, CR acquired Shenyang Snow Beer.)

Entering the New Century

CR entered the mainland China market, and successfully developed an array of key businesses through mergers and acquisitions, restructuring, business incubation, state-owned enterprise conversion, business format innovation, management innovation, the creation of a differentiated business model, and head-office value realization. These key businesses have become leaders in their respective industries (Left: In 1998, CR’s cement factory in Dongguan was completed and production started.)


Industrial Development Phase

(2001- Current)


China Resources achieved its grand strategic goal of “Recreating CR” for a second time, tripling its asset size and efficiency compared to 2001. CR has been growing rapidly in 10 consecutive years, making remarkable progress in terms of business transformation, management reform, organizational development, and corporate culture, enhancing its overall competitiveness substantially.

2010 to Current

CR has been actively driving the development strategies under the 12th Five-Year Plan. Its aim is to achieve the business targets of HK$700 billion in turnover, HK$100 billion in operating profit, and HK$1 trillion in total assets, and to become one of the top 250 among the Fortune Global 500 as well as a world-class enterprise by the end of the strategic period.

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