China Poly Group Corporation () is a
state owned
State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. Public ownersh ...
Chinese business group among 102 central
state owned enterprises
A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the government ...
under the supervision of
(SASAC).
It is both primarily engaged in representing the Chinese defense manufacturing industry in international sales and the world's third largest art auction house (behind
Sotheby's
Sotheby's () is a British-founded American multinational corporation with headquarters in New York City. It is one of the world's largest brokers of fine and decorative art, jewellery, and collectibles. It has 80 locations in 40 countries, and ...
and
Christie's
Christie's is a British auction house founded in 1766 by James Christie (auctioneer), James Christie. Its main premises are on King Street, St James's in London, at Rockefeller Center in New York City and at Alexandra House in Hong Kong. It is ...
).
[Bowley, Graham and Barboza, David]
"An Art Power Rises in China, Posing Issue for Reform"
''The New York Times'', 16 December 2013. Retrieved 5 July 2016.
History
With the approval of the State Council, China Poly Group Corp. was set up on the basis of
Poly Technologies, Inc. in February 1992. Poly Technologies was formed in 1984 as an arms-manufacturing wing of the
People's Liberation Army
The People's Liberation Army (PLA) is the principal military force of the People's Republic of China and the armed wing of the Chinese Communist Party (CCP). The PLA consists of five service branches: the Ground Force, Navy, Air Force, ...
.
After more than 20 years of development, international trading and real estate have been well established as the two core businesses of the Group, the managing director Quan Gui Chen while the culture industry is in cultivation and steady development. Having its affiliated enterprises and projects in Beijing, Shanghai,
Guangzhou
Guangzhou (, ; ; or ; ), also known as Canton () and alternatively romanized as Kwongchow or Kwangchow, is the capital and largest city of Guangdong province in southern China. Located on the Pearl River about north-northwest of Hong Kon ...
, Hong Kong,
Shenzhen
Shenzhen (; ; ; ), also historically known as Sham Chun, is a major sub-provincial city and one of the special economic zones of China. The city is located on the east bank of the Pearl River estuary on the central coast of southern province ...
,
Wuhan
Wuhan (, ; ; ) is the capital of Hubei, Hubei Province in the China, People's Republic of China. It is the largest city in Hubei and the most populous city in Central China, with a population of over eleven million, the List of cities in China ...
, Tianjin,
Harbin
Harbin (; mnc, , v=Halbin; ) is a sub-provincial city and the provincial capital and the largest city of Heilongjiang province, People's Republic of China, as well as the second largest city by urban population after Shenyang and largest ...
,
Shenyang
Shenyang (, ; ; Mandarin pronunciation: ), formerly known as Fengtian () or by its Manchu language, Manchu name Mukden, is a major China, Chinese sub-provincial city and the List of capitals in China#Province capitals, provincial capital of Lia ...
etc., the Group Corporation has made significant achievements in capital scale, economic benefits, business management and system construction, characterized by professionalism, scale operation and optimal allocation of resources.
Trade
International trading is Poly Group's traditionally focused industry and one of its present core businesses with Poly Technologies, Inc as its major operating platform, which ranks 63 among the top 500 import & export enterprises of China published by Ministry of Commerce in 2005. While intensifying its efforts on major business of defense and civilian products trading, Poly Technologies, Inc, in accordance with the strategy of "parallel focus on both trading and natural resources development", is taking an active part in such resources business as coal-mining, iron ore and crude oil exploration investment.
Real estate
Tens of billions RMB has been invested, over 13 million sq meters of projects are under construction, while more than 15 million square meters of land are in reserve. At present, two major operating platforms in real estate industry within Poly Group have come into shapre: the domestic platform with
Poly Real Estate Group Company Limited
Poly Real Estate Group Co., Ltd. is a Chinese real estate developer, and a subsidiary of state-owned China Poly Group. It principally engaged in the design, development, construction and sale of residential and commercial properties, as well as th ...
playing leading role, which ascended to top 5 China property developers in 2005 for its valuable brand and comprehensive strength; and the overseas platform with
Poly (Hong Kong) Investments Limited () as the major entity.
Culture
Cultural business is an industry Poly Group has been specifically fostering over the past years. Poly Culture & Arts Co., Ltd. acts as its core enterprise. Its business covers theatrical performance, theatre management and antique collection. The collection concentrates especially of recovering the 12
Chinese bronze zodiac
The Twelve Old Summer Palace bronze heads are a collection of bronze fountainheads in the shape of the Chinese zodiac animals that were part of a water clock fountain in front of the Haiyantang () building of the Xiyang Lou (Western style man ...
heads from the
Old Summer Palace
The Old Summer Palace, also known as Yuanmingyuan () or Yuanmingyuan Park, originally called the Imperial Gardens (), and sometimes called the Winter Palace, was a complex of palaces and gardens in present-day Haidian District, Beijing, China. I ...
looted in 1860.
Procurement actions during the COVID-19 pandemic
Group entities were active in procurement during the
COVID-19 pandemic
The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identif ...
. Figures from China Customs show that some 2.46 billion pieces of epidemic prevention and control materials had been imported between 24 January and 29 February, including 2.02 billion masks and 25.38 million items of protective clothing valued at 8.2 billion yuan ($1 billion). Press obtained internal documents showing that the group, together with other Chinese companies and state-owned enterprises – such as
Country Garden
Country Garden () is a property development company based in Guangdong, China, owned by Yang Guoqiang's family. In 2020, it is ranked 147th in Fortune Global 500 List. Country Garden features a market capitalization of over US$29.84 billion ...
and
Greenland Holdings
Greenland Holdings Corp., Ltd. known as Greenland Group is a Chinese real estate developer. It was founded as a state-owned enterprise. , the top 10 shareholders of the listed company owned a combined 88% shares, with some state-owned enterprises ...
– had an important role in scouring markets in countries around the world to procure essential medical supplies and equipment. The company said its operation was staff-led, and was "driven out of pure compassion for our people who have friends and family in the Wuhan region".
Subsidiaries
*
Poly Property
Poly Property Group Co., Ltd., is a Hong Kong incorporated Chinese property developer, with its major businesses include property development, investment and management. It mainly develops mid to high-end residential and commercial properties i ...
*
Poly Real Estate
Poly Real Estate Group Co., Ltd. is a Chinese real estate developer, and a subsidiary of state-owned China Poly Group. It principally engaged in the design, development, construction and sale of residential and commercial properties, as well as th ...
*
Poly Technologies
The Poly Technologies (), sometimes abbreviated as PolyTech, a subsidiary of China Poly Group Corporation, is a trade company with headquarters in Beijing, China. The company deals with missiles and other military products. The company was fou ...
* Poly Culture
* Poly Theatre
* Poly Auction
References
External links
Official China Poly Group Corporation website
{{authority control
Conglomerate companies of China
Government-owned companies of China
Companies based in Beijing
Conglomerate companies established in 1993
Chinese companies established in 1993
Defence companies of the People's Republic of China