CR was officially transformed into a state-owned capital investment company
2022-06-21,Strategy Management Dpet.

Recently, the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council issued the Notice on Matters Relating to the Reform of State-owned Capital Investment Companies. Upon the SASAC’s comprehensive assessment of the pilot reform of state-owned capital investment companies, China Resources Group (CR) was officially transformed into a state-owned capital investment company due to its accurate functional positioning, outstanding capital operation capability and remarkable effectiveness in adjusting development structure. 

Since July 2014, the SASAC has identified 19 central enterprises as a pilot for state-owned capital investment companies, including CR which was approved as a pilot enterprise at the end of 2018. Since the approval, CR has been proactively exploring the development mode of state-owned capital investment companies in accordance with the requirements of the CPC Central Committee and the SASAC. We endeavored to advance and implement the reform initiatives by leveraging on the opportunity of the “Three-Year Action Plan for the Reform of State-owned Enterprises”. In the process of transforming into a “capital management” company, CR continuously strengthens its advantage in diversified control in adherence to the development concept of “group diversification and profit center specialization”, and vigorously promotes innovation to facilitate its business transformation and upgrading and high-quality development based on the market-oriented principle, striving to protect and increase the value of state-owned capital. So far, the Group has raised a total of HK$62.2 billion through IPO or back door listing, and obtained a total of HK$70.9 billion by post-IPO placement, rights issue and other refinancing methods, which has strongly supported its development. The Group has listed its high-quality assets in consumption, healthcare, urban construction and operation, integrated energy, technology and emerging sectors, with a securitization rate of 88%. The total market capitalization amounted to approximately HK$1,100 billion by the end of 2021, representing an increase of 150% as compared with the beginning of the 13th Five-Year Plan.

Based on our efforts over the past five years, the Group further clarifies its strategic positioning for the 14th Five-Year Plan through high-level discussions, i.e. based on Hong Kong and in line with national strategies, building a state-owned capital investment company with CR’s characteristics and becoming a world-class enterprise with global competitiveness, and proposed its overall goal for the next five years that is to strengthen, optimize and expand its existing core businesses, cultivate new businesses and enhance its influence in Hong Kong so as to build a world-class state-owned capital investment company with CR’s characteristics.

Embarking on a new journey, CR will, in response to the decision and plan of the SASAC, conscientiously implement various tasks, continuously deepen and consolidate the achievements in reform, and effectively exert its function and role of capital management to promote the high-quality development of the Group, in a bid to make new and greater contributions to building a world-class state-owned capital investment company with CR’s characteristics.