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Starting as a contractor, China Overseas constructed various significant livelihood and celebrity projects including the water pipeline from Muk Wu to Tai Lam Chung, reclamation project in Tin Shui Wai and etc, interpreting the efficiency and professionalism of a Hong Kong enterprise, as well as the responsibility of a Chinese enterprise. Following the development of construction business, China Overseas expanded its business to property development.
With the reaffirmation of the reform program in Deng Xiaoping’s Southern Tour of 1992, China Overseas was listed in Hong Kong and became the famous red chip enterprise in Hong Kong. Being awarded the Hong Kong International Airport project, Ngong Shuen Chau Naval Base and Gun Club Hill Hospital, we dedicated to contribute to the return of Hong Kong to China. During Asian financial crisis, China Overseas rode together with the Hong Kong community. In 1998, we seized the reform of the commodity property in Mainland and transferred the core of businesses to Mainland.
Stepping into the new millennium, China set off the trend of industrialization and urbanization. China Overseas unleashed the experience and professional advantages in Hong Kong, expanding the property business to the entire China and experiencing a rapid growth on scale and efficiency. By constructing Hong Kong Disneyland and The City of Dreams, Macau, we ranked top at Hong Kong and Macau markets. We experienced the growth of both property and construction businesses with the listing of China State Construction International Holdings Limited and developed its international construction market by entering the United Arab Emirates and India markets.
With the construction of the MGM, Macau, Hong Kong Children’s Hospital and the sales of One Kai Tak and the Regent, Macau, China Overseas built a solid foundation in Hong Kong and Macau markets. Our property business received turnover of over HK$100billion and expanded the operation of commercial property business, at the same time, we merged Shell Electric, Far East Global, CITIC and China State Construction Land, as well as the listing of China Overseas Property. China Overseas formed a business matrix with professional and diversified development with the globalization of property business.
China Overseas embraced the new era with steady growth. We actively followed the country’s strategies in the development of Guangdong – Hong Kong – Macau Greater Bay Area, the coordinated development of the Beijing – Tianjin – Hebei Region, the integrated development of Yangtze River Delta, Belt and Road Initiative and the Xiong’an New Area, dedicating to become the world class investment, construction, operation service provider.
June 1, China Overseas Building Development Co., Ltd. was incorporated in Hong Kong.
In May, the Company obtained five most high grade construction licenses in Hong Kong, and might submit tender of unrestricted value.
In February, the Company was awarded its first large-scale government project of constructing water pipeline from Muk Wu to Tai Lam Chung, and received a commemorative flag displaying “Yu Chi Xia Er” (renowned locally and overseas) from the Hong Kong Government for its outstanding work. The project helped solving 70% of the living water usage.
In June, the Company invested in the development of Treasure Garden in Hong Kong, with the scientific design, excellent materials and environment, achieving outstanding sales and branding effects. This was a turning point in the Company's development.
In May, the Company was awarded the most incredible Tuen Mun Plaza project, making a huge noise in Hong Kong.
From September to November, the Company won three contracts in a row – the land formation and drainage of Tin Shui Wai development, Tsui Ping Estate Phase IV, and Siu Sai Wan Estate Phase II. The annual business turnover topped other contractors in Hong Kong.
The Company further developed its scale by setting up subsidiaries in Shenzhen, and establishing property company, building company and civil engineering company in Hong Kong, stepping out the “localization, commercialization and group company” strategy.
In September, the Company was awarded the first USD-priced global land tender and named “Hai Fu Garden”. This project innovatively bring in “property management” concept, “mortgage” home buying model, “show flat” display and “sky garden and in-house garden” design, etc, leading the industry development.
In June, the Company’s self-owned premise, China Overseas Building, in Wanchai starts construction. In October, 1991, the Company moved to this new premise.
In January, contract signed for a lease land in Shanghai. The land, later developed to Hai Hua Garden, won various recognition including Luban Prize and “Bai Yu Lan” award.
In August, China Overseas Land & Investment Limited (“COLI”) (SEHK code: 0688) was listed on The Stock Exchange of Hong Kong Limited. It is the first Chinese enterprise using its own Hong Kong assets to acquire listing status.
Mr Sun Wen Jie, the Company’s Chairman and President, was granted the Outstanding Award – National Construction Industry, PRC. In the same month, Mr Sun, being a representative of The Hong Kong Chinese Enterprises Association, was warmly received by Premier Li Ping in Beijing.
In August, the Company celebrated its 15th Anniversary.
In January, the Company joined hands with British, Japan, and local contractors to form the BCJ JV and secured the New Airport Passenger Terminal Building contract with a value of HK$10.13 billion. It was the largest-valued single contract ever committed in Hong Kong at the time and the biggest amongst the same kind in the world.
In December, the Company acquired the operation right for “Four Bridges and One Highway” in Guangzi, Nanning; followed by investment in “Six Bridges and One Road” in Liuzhou, Jingnan, innovating the investment-operation business model in Mainland.
In July, the Company completed successfully the logistic support of Jiang Zemin, the president of PRC who gave a visit to the People’s Liberation Army Hong Kong Garrison and received the commendatory letter from the Hong Kong Garrison. At that time, China Overseas Property responsible for the property management services of Ngong Shuen Chau Naval Base, Central Barracks, the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region and etc.
In October, Mr. Zhu Ronji, Premier of the PRC State Council gave a visit to Guangzhou Baiyun International Airport construction project undertaken by the Company.
From October, the Company secured the Infrastructure for Penny's Bay Contract project, becoming the main contractor of China's first Disneyland.
In August, China Overseas Property Group Co., Ltd. (“China Overseas Property”), new flagship of the Company's mainland property business, was officially registered in Shenzhen.
In April, the Company's property business in Mainland developed rapidly and in large scale by awarding three lands in Chengdu, Shenzhen and Suzhou.
In May, COLI became the first mainland property developer to receive both investment grade rankings from Moody and Standard and Poor. Till now, we are the only property developer to receive grade A ranking in Mainland.
8 July, China State Construction International Holdings Limited (“China State Construction”) (SEHK code: 03311) was listed by introduction on the Main Board of the Stock Exchange of Hong Kong Limited.
In December, the building of Duijiangyan China Overseas Special Education School had started. The Company donated over HK$30 million to assist the disaster areas of Sichuan earthquake and the Chinese winter storms.
In May, the Company awarded the first BT project – Binhai Avenue, Hebei.
In March, COLI acquired shares of the Shell Electric Mfg. (Holdings) Company Limited, and renamed as China Overseas Grand Oceans Group Limited (SEHK code: 00081).
In February, China State Construction acquired shares of Far East Global Group Limited, now renamed as China State Construction Development Holdings Ltd (“CSCD”) (SEHK code: 00830).
In June, President Hu Jintao visited Kai Tak Site 1A Public Housing Construction Project of China State Construction in Hong Kong.
In May, the Company secured the MGM, Cotai project with a contract value of HK$10.5 billion, which is the largest wholly-conducted contract in our history.
In March, COLI announced to receive a substantial asset injection from China State Construction Engineering Corporation Limited, making the land bank of the Company was increased by 10.92 million square meters.
In October, China Overseas Property Holdings Limited (HKSE code: 02669.HK) was listed on the Main Board of Hong Kong Stock Exchange and this is the fifth listed company of the Company.
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In September, COLI completed the merge and acquire of the property businesses under CITIC Group, richening the land reserve and optimizing the shareholding structure.
1 July, Xi Jinping, president of PRC with Carrie Lam, chief executive of the Hong Kong SAR Government gave a visit to the Hong Kong link road project of the Hong Kong – Zhuhai – Macau Bridge, which is the project of the Company.
In November, COLI secured the first mega scale construction project of Xiong'an New Area, creating the new model of investment – construction – operation – fund management.
24 October, Xi Jinping, president of PRC gave a visit to the Museum of Contemporary Art & Planning Exhibition in Shenzhen. The museum was invested, operated and managed by the Company and now become the landmark in Guangdong – Hong Kong – Macau Greater Bay Area.
In November, China State Construction issued US$0.5billion guaranteed perpetual capital securities which is first ever issuance of overseas perpetual capital securities in the history of the Company, further expanding the overseas financing platform.
In December, the Company secured three lands in Kai Tak area, Hong Kong with total investment reached HK$50billion.
In January, COLI entered into a five-year term loan of HK$30billion with 20 leading banks, which is the largest bank facility in the history of the Company with the most number of participating banks, and the size of the facility is one of the largest in Hong Kong.
In March, the Company signed a cooperative and development agreement with the management committee of Suzhou industrial park.
In May, the Company won the bid of the Hong Kong Palace Museum project, with the total contract sum of HK$2.2billion.
9 April, the quarantine centre at Lei Yue Mun was successfully completed, providing 350 quarantine units.
27 July, CSCI issued a 3-year panda bond of RMB 2billion, which is the first ever issuance of panda bond in the history of the Company.
29 July, the Company signed a cooperation framework agreement with Shanghai Huangpu People's Government for the Jianguo East Road project. The total investment of this project reached RMB 59 billion and is the largest scale project in the history of the Company.
21 August, Yan Jianguo, chairman of the Company attended the kick off ceremony of the “Kangle Mushroom” brand and presented a cheque of RMB 4 million to purchase the mushroom for helping on poverty alleviation. 27 August, the Company participated in the live commerce activity organized by state-owned assets supervision and administration commission of the state council with the sales figures reached RMB 7.6 million, setting a new record of live commerce by Guozixiaoxin.
9 October, the construction of the community treatment facility at AsiaWorld-Expo with the support from the Central Government was completed.
18 November, the topping ceremony of Hong Kong Palace Museum was held. Carrie Lam, chief executive of Hong Kong SAR Government expressed her appreciation on the efforts and contribution of our construction team.
20 January, the construction of the North Lantau Hospital Hong Kong Infection Control Centre with the support from the Central Government was completed. The completion of the project helped Hong Kong to enhance the ability to fight against the pandemic and relieve the pressure of the entire medical system.
