China Merchants has been named the ‘A-Level State-Owned Enterprise’ for recent years and was awarded “Best Performed State-Owned Enterprise” in 2007. By the end of 2008, the company reports a gross asset value of RMB201.2 billion (US$29.5 billion) and RMB1732 billion (US$253.4 billion) as assets under its management. Core Businesses The company has three core businesses: Transportation (Ports and Related Services, Toll Roads, Energy Shipping and Logistics) China Merchants Holdings (International) Company Limited (CMHI, SEHK 0144, 55.77%) has created a strategic network of ports in China's coastal regions: the Bohai Economic Zone (Tianjin, Qingdao), the Yangtze River Delta (Shanghai, Ningbo), the Xiamen Bay Economic Zone (Zhangzhou), the Pearl River Delta (Shenzhen,), and the Southwest region (Zhanjiang). The costal regions form CMHI's unique industry foundation, and have been the basis of China's prospering port business in recent years – key in transforming CMHI into China's leading public port operator. CMHI and its subsidiaries are dedicated to the execution of China Merchants' business strategy through Greenfield projects, merger and acquisition and capability enhancements of existing assets. CMHI being its largest shareholder (22.75%), China International Marine Containers (Group) Limited (CIMC, SZSE 200039) is the world's No. 1 container manufacturer in terms of capacity and product range. Its customers include the most renowned international shipping companies and container leasing companies. CIMC's products are widely used in advanced land and marine logistics systems across Europe, North America and Asia. Since 1996, CIMC container output has topped international rankings and currently represents over 50% of the world's total output. Huajian Transportation Economic Development Center and China Merchants Holdings (Pacific) Limited (78.4%, the largest toll road company listed on the SGX) are the two toll road players of China Merchants and the leading investors, developers and operators in China. Together they manage over 4500 kilometers of toll roads, tunnels and bridges across 17 cities and provinces including Beijing, Shanghai, Jiangsu, Guangdong, and Hong Kong. In 2008, China Merchants Energy Shipping Company Limited (SHSE 601872, 54.07%) owns and operates a fleet of 32 oil tankers with 3.65 million DWTs (mainly VLCCs). And the company is expecting 18 contracted tankers with 3.68 million DWTs and 2 LNG carriers to be delivered soon. China Merchants Logistics (CML, 100%) operates an efficient network connecting 56 hub cities of China. As a Chinese company which has worked with some of the world's leading logistics providers, manufacturers and retailers, it fully understands the importance of an effective supply chain, and has adapted relevant western logistics techniques to suit Chinese market conditions. Finance (Banking, Securities, Funds, Insurance) China Merchants bank (SEHK 3968, SSE 600036, 17.63%) is now an international commercial bank with over five hundred branches in mainland China, Hong Kong and New York, a total asset of over RMB600 billion. China Merchants Securities (51.72%) currently operates in 27 cities (including Hong Kong) and provides a range of services through the capital markets including sales and trading of stocks, capital raising, asset management, M&A related and investment advisory services. Its overall turnover of stock, fund, and warrant trades climbed one place to China’s No. 6 in 2008. China Merchants Finance Group (100%) operates businesses including fund and fund management, insurance and insurance brokerage. Property China Merchants Property Development Company Limited (SZSE 000024, 50.86%) develops and invests in leading real estate from landmark office buildings to luxury residential properties in Beijing, Shanghai, Shenzhen and other major cities of China. It owns over 1000 square meters of land reserve till the end of 2008. Meanwhile, China Merchants Shekou Industrial Zone Company Limited (100%) and Chian Merchants Zhangzhou Development Zone Company Limited (72%) provide complex facilities for the development of the 11-square-kilometer and 56-square-kilometer lands. Others China Merchants Industry Holdings Company Limited (100%) is a diversified company with businesses in ship repairing and refitting, offshore engineering, special ship building, aluminum alloy processing and tugboat services. It boasts its ship repair service through the largest dock yard in Hong Kong and a world-class ship and offshore engineering structure repair yard on Mazhou Island Shenzhen. Hoi Tung Marine Machinery Supplies Limited (100%) has been focusing on providing import/export services of maritime equipments. It enjoys a mature network and a sound brand name in and outside China. China Merchants Technology Holdings Company Limited (100%), one of China’s earliest and most successful venture capitalists, is specializing in investment in hi-tech development and technology innovations, management of hi-tech firms and buildup of hi-tech industrial bases.