China Resources
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| State-owned enterprise | |
| Industry | Conglomerate |
| Founded | 1938 |
| Headquarters | Hong Kong |
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Area served
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China Hong Kong |
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Key people
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Chairman: Dr. Fu Yuning |
| Revenue | $52 billion (2012) |
| Website | China Resources |
China Resources (simplified Chinese: ; traditional Chinese: ; pinyin: Huá Rùn; Cantonese: Wa4 Yeun6) is a group of companies in a wide variety of businesses in Hong Kong and China. It is a state-owned enterprise supervised by the State-owned Assets Supervision and Administration Commission of the State Council. Some of its subsidiaries use the name in the form of the acronym CRC.
The company started as Liow & Company (Chinese: 聯和公司) in Hong Kong in 1938. Its original purpose was to raise funds and purchase supplies and equipment for the People's Liberation Army, then engaged in the Chinese Civil War. It was renamed as China Resources Corporation (Chinese: 華潤公司) in 1948. In 1983, the company was incorporated as China Resources (Holdings) Company Limited (Chinese: 華潤(集團)有限公司).
The company's main business focus is the export of mainland Chinese products (including energy) to Hong Kong. Its retail operations are organised under the China Resources Retail group, and include Chinese Arts & Crafts; it also runs a number of supermarkets in Hong Kong, originally under the CRC name, but now rebranded as Vanguard. It also owns Ng Fung Hong, the monopoly meat importer into Hong Kong.
According to Fortune Magazine, China Resources was ranked 115th on the 2015 Fortune 500 list, improved 28 places since 2014. It is the 21st largest state-owned enterprise in China.
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Wikipedia