China Overseas' 40th Anniversary: Four Decades of Ingenuity, Embracing a Bright Future

香港, 2019年6月12日 - (亞太商訊) - The 40th anniversary reception hosted by China Overseas Holdings Ltd (China Overseas, or Group) on 6 June was a befitting success. Themed 'Driving growth from Hong Kong, Prospering motherland, Striving for world-class leadership', the event was held at the Hong Kong Convention and Exhibition Centre, graced by more than 600 guests from the local political and business sectors, and partners of the Group. During the event, China Overseas recapped its achievements of the past four decades and unveiled its corporate mission, "Expanding a happy living environment", and development vision, "Become the world's most competitive investment construction group." In the next decade, the Group will invest no less than HK$300 billion in Hong Kong, continuing to contribute to the city's economic and social advancement.

- One of the largest real estate developers and operators in mainland China and one of the largest construction contractors in Hong Kong and Macau -

In June 1979, as China forged ahead with reform and opening up, China Overseas was set up in Hong Kong. As the operational platform in Hong Kong and Macau and the property business flagship of CSCEC (ranked 23rd among the Global 500), China Overseas has remained loyal to its mission of "Developing Hong Kong and Macau. Prospering the motherland. Serving the community". It has strived to advance, working hard with passion for business development, with love for the country and dedication to shouldering responsibility, to spread love and care for China and Hong Kong. With utmost respect for "One Country, Two System" and in step with the country's reform and opening up efforts, it has built a business model supported by a complete industry chain that stretches from investment, construction to operation, giving it strong competitive advantages in realizing its value, that is to achieve growth, prosperity and a win-win outcome with the cities of today. With this at heart, China Overseas has risen to rank among the largest real estate developers and operators in mainland China and the largest construction contractors in Hong Kong and Macau today.

Well-placed in the "Belt and Road" and the Greater Bay Area regions, the Group boasts geographical and first-mover advantages, and is well-poised to contribute to the construction of the nation and regional development. Currently, the Group has a presence in all 11 cities in the Greater Bay Area and owns 230 investment projects, 859 construction projects and 367 property management projects with a total investment cost of HK$387.6 billion. By drawing on its successful experience operating businesses in Hong Kong and Macau and actively implementing its cross-regional operational strategy, the Group has established three major regional platforms in Hong Kong and Macau, mainland China and overseas, with a business reach extended to markets including London (UK), New York (US) and Sydney (Australia). It has also set up an office in Portugal and won the tender for the tallest building project in Canada and a property project in Singapore, moving forward in strides with internationalization of its business.

At the cocktail reception, a video recapping the 40-year development history of the Group was shown and exhibits were displayed to take guests down the memory lane of the Group overcoming different challenges and growing together with Hong Kong over the past four decades. CPPCC Vice-Chairman Leung Chun-ying, who was a surveyor at Jones Lang LaSalle at the time helping in the setting up of China Overseas, recalled, "Forty years ago, together with other professionals, I had the opportunity to take part in preparing for the setting up of the Group. Thus, it gives me great delight to see the Group taking strong roots and growing in strides with the city and becoming a key player in the city's construction sector."

Mr. Yan Jianguo, Vice Chairman and General Manager of China Overseas, said, "Retracing the path we have taken, we fully appreciate the fact that successful enterprises are born of their times. China Overseas will never forget the times - good and bad - it has gone through in the past four decades and is grateful for every opportunity presented to it in this great era. In 1979, the year after China embarked on reform and opening up, China Overseas was founded in Hong Kong. We are so fortunate to be able to play a part in the city flourishing as one of the 'Four Asian Tigers'. Then came 1984 and the city saw a bright future and we exerted efforts in deepening our roots here. In 1997 Hong Kong rejoined the motherland and we started to expand our business in the Hong Kong and Macau and also mainland China markets. From there and then, China Overseas has quickly grown to become the largest construction company in Hong Kong and the leader in the real estate industry in the Mainland, while also marching in strides into the international market."

- To invest no less than HK$300 billion in Hong Kong over the next decade -

In the past 40 years, China Overseas has focused on "fostering growth of Hong Kong and Macau and prospering the motherland". Mr. Yan pointed out that the Group has in those years pushed to be a part of the different facets of life of Hong Kong people, including having built 15% of all public housing, 25% of the hospitals, 70% of all water supply pipelines, and invested in and delivered a total of 21,749 private residential units. Currently, there are five listed companies in the China Overseas family and their market value in all amounted to about HK$380 billion.

Mr. Yan continued, "Hong Kong has nurtured growth of China Overseas, thus being grateful to the city and helping the city grow and serving its needs are going to be our quest forever. In the next 10 years, China Overseas intends to invest no less than HK$300 billion in the city in areas including building construction, engineering construction, real estate development, commercial assets operation, property management services, and public utilities, etc., keeping up its efforts to aid economic and social development in the city."

Mr. ZHENG Xuexuan, representative of Chairman of CSCEC, in his speech said, "China Overseas, as CSCEC's first overseas operational platform, started as a small business with capital of but HK$1 million and today it is a sizeable modern enterprise with a market capitalization of more than HK$820 billion and profit of over HK$40 billion. It has made an instrumental contribution to CSCEC's solid standing as the world's largest investment construction group, giving its parent the essential support to become a world-class business corporation."
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