China Merchants Group (CMG)

China Merchants Group (CMG), a key state-owned enterprise (SOE) directly administered by the central government, is headquartered in Hong Kong and stands as one of the earliest Chinese-funded enterprises established and operating in the region. As a century-old, comprehensive, and Hong Kong-based SOE, CMG has been upholding its corporate mission of “Drive progress of our times through success of our business” and core values of "Prosper with the country and thrive with the times". Dedicated to serving national prosperity, the rejuvenation of the Chinese nation, and the well-being of the people, CMG has actively participated in and borne witness to China's remarkable transition in modern history: from an era of lagging behind, through catching up with global progress, to ultimately emerging as a global leader.

CMG is a century-old SOE with a distinguished legacy. Established in 1872 during the Westernization Movement as a pioneer of China's national industry and commerce, CMG founded the nation's modern shipping industry and secured an important position in China's contemporary economic and social development history. Under the great initiative of reform and opening-up, CMG developed Shekou Industrial Zone in Shenzhen, the very first open industrial park in China with extensive global reach, propelled the epoch-defining slogan of "Time is money, and efficiency is life", and championed the ethos of "In empty talks the nation languishes, on solid efforts it flourishes," contributing valuable experience to China's reform and opening-up exploration. In the new era, CMG advances its vision as a world-class enterprise with high-quality development, making explorations for national rejuvenation.

CMG is a comprehensive enterprise with diverse business operations. Its primary focuses are on transportation and logistics, comprehensive finance, comprehensive development of cities and parks, and innovation. In recent years, CMG has spearheaded high-quality international expansion, emerging as one of the most globally engaged SOE. CMG is pursuing its vision to become an innovation-driven, comprehensive and international world-class enterprise. It has accelerated its "Third Pioneering Endeavor," enhancing essential capabilities and core competitiveness. Through deepening reforms and innovation, CMG propels the transformation of traditional industries toward higher value-added segments along the "Smiling Curve", while actively cultivating strategic emerging industries to forge a sustainable growth trajectory epitomized by the "Malik Curve" model.

CMG is a Hong Kong-based SOE deeply rooted in the city. In 1873, CMG established a branch in Hong Kong to engage in the construction and operation of the city’s shipping industry. It has since served as a witness, participant, and driving force in Hong Kong’s development journey, maintaining a century-long partnership with the city. CMG has been implementing the "One Country, Two Systems" principle, remained committed to its deep engagement in Hong Kong, and fully integrated into the city’s socioeconomic development. It fulfills corporate responsibilities by actively participating in the development of "Three Centers and One Hub" in Hong Kong, contributing to the city’s long-term prosperity and stability through its high-quality development. CMG also supports Hong Kong’s deeper integration into the national development agenda and its transition from governance to prosperity.

In 2024, China Merchants Group accelerated its "Third Pioneering Endeavor", achieving new progress in high-quality development. The transportation and logistics sector has surged forward with momentum, the comprehensive finance sector maintained stable growth with improved quality, the property and park development sector made progress against headwinds, and the innovation sector has accumulated energy for growth. Meanwhile, CMG fully deepened state-owned enterprise reforms, unleashed innovation capabilities across all sectors, and expanded digital and intelligent transformation. The Group fulfilled all major operational targets in 2024: annual revenues reached RMB 915.8 billion, total profits RMB 227.2 billion, and net profits RMB 187.4 billion. Total assets reached RMB 14.6 trillion. CMG maintained its exemplary performance record, securing a grade A rating in the State-owned Assets Supervision and Administration Commission (SASAC) operational assessment for the 21st consecutive year, and has been honored as an "Outstanding Enterprise" throughout seven consecutive assessment periods.