China Poly Group Corporation

China Poly Group Corporation
Native name
 中国保利集团公司
Zhōngguó Bǎolì Jítuán
Founded 1999 (1999)
Headquarters Beijing, China
Key people
 Zhengao Zhang (President and Director), Xu Wang (Vice President), Ming Xue (Vice President), Wang Lin (Vice President)
Website www.poly.com.cn
China Poly Auction preview exhibition in Hong Kong

China Poly Group Corporation (Chinese: 中国保利集团公司; pinyin: Zhōngguó Bǎolì Jítuán Gōngsī) is a business group headquartered in the New Beijing Poly Plaza in Beijing, China.

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. It is one of the 112 central enterprises under the supervision and management of the State-owned Assets Supervision and Administration Commission (SASAC).

After more than 20 years of development, international trading and real estate have been well established as the two core businesses of the Group, while the culture industry is in cultivation and steady development. Having its affiliated enterprises and projects in Beijing, Shanghai, Guangzhou, Shenzhen, Wuhan, Changsha, Tianjin, Harbin, Shenyang, Chongqing, Hainan, and Hong Kong 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. Recently it also collaborates with China Council for the Promotion of International Trade(CCPIT) in the investment of new China International Exhibition Center. Poly Group is accredited by SASAC as the only central enterprise mainly engaged in defense items trading.

Real Estate

Real Estate is another core business Poly Group has prioritized and devoted to in recent years. So far, 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 playing leading role (to be listed soon), 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 (SEHK: 0119) as the major entity. Poly Group was the most profitable enterprise in 2005 among all central enterprises primarily engaged in property development.

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, antique collection (especially by recovering the Chinese bronze zodiac heads looted from the Old Summer Palace from overseas collectors), artworks auction, film & TV program production, film distribution and cinema chains management. It was designated as "cultural industry's role model" by Ministry of Culture.

The wholly owned Beijing Poly International Auction subsidiary was in 2013 named as the world's third largest auction house.[1]

Subsidiaries

References

  1. ↑ Bowley, Graham and Barboza, David. "An Art Power Rises in China, Posing Issue for Reform", The New York Times, 16 December 2013. Accessed 5 July 2016.
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