Directory of Central SOEs

China Resources (Holdings) Co Ltd (CR)

Updated: Apr 22, 2019 Print
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China Resources (Holdings) Co Ltd (CR or China Resources Group) is a diversified holding company established in Hong Kong in 1938. It was restructured and renamed as China Resources Company in 1948. In 1952, instead of being affiliated to the General Office of the CPC Central Committee, it came under the Central Trade Department (now known as the Ministry of Commerce). In 1983, it was again restructured into China Resources (Holdings) Co Ltd. By December 1999, CR was no longer linked to the Ministry of Foreign Trade and Economic Cooperation, and came under State management. In 2003, under the direct supervision of SASAC, it became one of the key State-owned enterprises.

In 1983, all affiliates under CR were restructured and linked to CR through equity holdings. On that basis, China Resources (Holdings) Co Ltd was formed. Since then, CR’s business has transformed from a sole trading agency into self-operated businesses. Driven by a series of industrial investments, the company has gradually developed into an influential, industrial-focused enterprise group in Hong Kong and mainland China.

China Resources Group owns seven key strategic business units, 17 grade-A profit centers, and 1,987 business entities. In Hong Kong, there are six listed companies under CR, and its “top two blue chips” – CR Power and CR Land – are both HSI constituents.

China Resources Group is a Fortune Global 500 enterprise, ranking 86th in 2017. CR’s retail business, which includes Snow beer brand and gas operations, is the largest of its kind in China. CR Power and CR Cement have industry-leading business performance and operational efficiency. CR Land is one of the most reputable and integrated real estate developers in mainland China. CR pharmaceuticals’ sales volume is among the best in the country, while “Snow” beer, “C’est bon” purified water, “CR Vanguard” supermarkets, and the “MIXC” mall, 999, CR Double-Crane, and Dong-E-E-Jiao are all household brands in China.

The group’s core businesses include consumer products (including retail, beer, food and beverages), power, real estate, cement, gas, pharmaceuticals and finance. CR’s diversified businesses are built on a solid industrial foundation and market competitiveness highlighted by its retail, beer, power, real estate, gas, and pharmaceutical businesses, all industry leaders within their fields.

Since the advent of the 21th century, CR has been striving to capture the historical opportunities arising from China’s economic takeoff, and has maintained rapid growth for more than a decade, effectively achieving its grand strategy vision of “Recreating CR” for a second time. CR has built a strong industrial foundation, and significantly increased its overall competitive strength. The enterprise has entered a new phase of development.

In future, China Resources Group will continue to excel from this new starting point, achieving better performance in order to generate stable returns for shareholders while contributing to society.



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