Directory of Central SOEs

China Merchants Group (CMG)

Updated: Apr 22, 2019 Print
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China Merchants Group (CMG) is a leading State-owned enterprise based in Hong Kong, under direct supervision of the State-owned Assets Supervision and Administration Commission of the State Council. Its business performance hit a record high in 2017, with 584.4 billion yuan ($91.66 billion) revenue, up 18 percent year-on-year, and 127.7 billion yuan total profit, up 14.3 percent year-on-year, ranking No 2 among all the central SOEs. It has been recognized as one of the eight Class-A SOEs for thirteen consecutive years.

China Merchants was founded in 1872. It is a pioneer in China’s national industry and commerce.

CMG is a conglomerate with the three business platforms of non-financial industries, financial services, and investment and capital operation. CMG’s non-financial industries cover ports, toll roads, shipping, logistics, real estate, zone development, offshore engineering and trade.

CMG actively participates in the national initiative of the Belt and Road, operating 52 ports in 20 countries and districts and creating an overseas network of ports, logistics, finance and industrial parks.

CMG has invested and operated many key transportation infrastructures in Mainland China and Hong Kong. In 2017, the company's container throughput was over 100 million TEU for the first time, which makes the company the biggest in China and a world-leading terminal developer, investor and operator.

CMG is the largest toll road investor and operator in China. It has invested in 8,354 kilometers of toll roads, bridges and tunnels in 18 provinces, autonomous regions and municipalities including Beijing, Tianjin, Guangdong, Zhejiang, and Guangxi. Eighteen national-level and provincial-level Research & Development platforms have been launched to tailor full-chain toll road businesses covering exploration, design, construction, investment, operation, maintenance and service.

After Sinotrans & CSC was incorporated into CMG, CMG becomes the largest comprehensive logistics services provider in China with its logistics business ranking top in the world. Its HK-listed subsidiary Sinotrans is the comprehensive platform of the group’s logistics business, with three main business sectors, namely freight forwarding, professional logistics and E-commerce. By 2017, CMG had 1,193 subsidiaries in 32 provinces, autonomous regions and municipalities and 79 logistics institutions in 32 countries and districts, which continue to provide one-stop service and end-to-end supply chain solutions to customers.

CMG provides city development and operation business through China Merchants Shekou (CMSK) and the Zhangzhou China Merchants Economic and Technological Development Zone (CMZD). After restructuring, CMSK will develop a PPC (Port-Park-City) Business Model with integration of industries, internet, finance and city, striving to balance development of industrial parks, communities and ocean cruises, and to be a leading city developer and operator in China.

CMG also performs robustly in industries, trade, and technological investment. The company owns Hong Kong's biggest ship-repair yard.

CMG has a “4+N” financial system. “4” refers to banking, securities, insurance and funds. “N” includes financial leasing, asset management, and finance companies.

CMG attaches importance to innovation through China Merchants Investment Development which focuses on overseas investment and China Merchants Venture Capital Management which is involved with the intersections of the Internet and industries. China Merchants' new development lies at the intersection of industry and finance, of industry and city development, of industry and the Internet, and technology innovation. CMG has established an "Internet+" fund and Internet incubators, aiming to bridge the interactions of capital and technological resources. The company is accelerating the implementation of "Industry + Internet" and nurturing six innovative ecosystems in comprehensive ports, intelligent transportation, featured finance, smart parks, supply-chain logistics and shipping and service.

China Merchants Group is well-known both in and out of China for its rich history and business strength. Headquartered in Hong Kong, CMG will take root in The Great Bay area, expand businesses in Xiong’an New Area, restart businesses in Shanghai and evolve with "The Belt and Road" Initiative. In the New Era, CMG will continue to deepen reform and speed up innovation to gain effective quality growth within a matching development scale. The company is now at a new starting point and is sparing no effort to build itself into a globally competitive and world-leading conglomerate.

CMG, founded in the Westernization Movement in 1872, was a pioneer in China’s national industry and commerce. During the past 140 years, CMG has made a lot of firsts and acted as a leader in different business fields, like setting up the first commercial fleet, bank and insurance company in modern China. CMG has played and continues to play an important role in the economic and social development history of modern China. In 1978, it made great contributions to the opening-up by solely-investing and developing Shekou Industrial Zone, the first zone in China open to the outside, and launching China Merchants Bank and Ping An Insurance Company, the first joint stock Chinese bank and insurance companies.



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