Forerunner of China's National Industry Celebrates 130th Birthday

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Last updated at: (Beijing Time) Friday, December 20, 2002

Forerunner of China's National Industry Celebrates 130th Birthday

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China Merchants, forerunner of China's national industry, celebrated its 130th birthday at a gathering Thursday with pledges of more contributions to Hong Kong's economic construction and social development.

Qin Xiao, chairman of China Merchants Group Ltd., delivered a speech at a press conference held before the party to mark the company's birthday which falls on Dec. 26, pointing out that the history of China Merchants is tied intimately to China's development.

Currently it focuses on port, toll road, finance, logistics, shipping, and real estate businesses, with the total assets reaching 54 billion HK dollars (6.9 billion US dollars), Qin said.

Qin continued to say that China Merchants has long operated in Hong Kong and has already developed into one of the four most important mainland-funded companies in Hong Kong.

Qin pledged that his company will inherit the great tradition of "patriotism, self-reliance, entrepreneurship, and credibility,"and continue to function as the important economic and trade link between Hong Kong and the Chinese mainland, and to retain a prominent position in China's modernization drive and Hong Kong's persistent prosperity.

Zheng Kunsheng, deputy director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region (SAR), stated in his congratulatory message that China Merchants witnessed the history of the Chinese enterprises growing "from small to large, from weak to strong" in Hong Kong.

Zheng expressed wishes that China Merchants will seize the opportunities in Hong Kong's economic transformation and beef up its competitive edge to make greater contributions to Hong Kong's economic and social development.

Tung Chee Hwa, chief executive of the HKSAR, and Gao Siren, director of the Liaison Office of the Central People's Government in the HKSAR, were among the 1,500 guests present at the party.

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