Website www.cmhk.com/en/ Founded 1872 | Headquarters Hong Kong Type State-owned enterprise | |
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Owner People's Republic of China (under the State-owned Assets Supervision and Administration Commission of the State Council) Subsidiaries China Merchants Bank, China Merchants Port | ||
China Merchants Group (招商局集团, Zhaoshangju Jituan) is a state-owned corporation of People's Republic of China. It is the major shareholder of China Merchants Holdings (International) (55.4%) as well as China Merchants Bank (18%). The company's headquarters are located on the top floor of China Merchants Tower, Shun Tak Centre, Hong Kong.
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Subsidiaries
The company currently owns:
History
China Merchants Steam Navigation Company was a transportation company founded on December 16, 1872, by then Minister of Beiyang Li Hongzhang as part of the Self-Strengthening Movement during the late Qing dynasty. Eighty percent of the start-up capital was provided by native Chinese, making this the first transportation company using modern technology not based on foreign ownership. In 1938, during the Second Sino-Japanese War, the company sold four of its ships Haiyuan, Haili, Haichen and Haiheng to the Hong Kong-based trading company Jardine Matheson & Co.
The company split due to the Chinese Civil War, which began in 1927. The Taipei-based CMSNC merged with Yang Ming Marine Transport Corporation on July 1, 1995.