China Poly Group Corporation
Poly Group
Native name
中国保利集团公司
Zhōngguó Bǎolì Jítuán
TypeState-owned enterprise
IndustryConglomerate
Founded1999 (1999)
Headquarters
Beijing
,
China
Key people
Zhengao Zhang (President and Director), Xu Wang (Vice President), Ming Xue (Vice President), Wang Lin (Vice President)
Revenue305,646,000,000 renminbi (2018) Edit this on Wikidata
ParentState-owned Assets Supervision and Administration Commission of the State Council
SubsidiariesPoly Technologies
Websitewww.poly.com.cn

China Poly Group Corporation (Chinese: 中国保利集团公司; pinyin: Zhōngguó Bǎolì Jítuán Gōngsī) is a state owned Chinese business group among 102 central state owned enterprises under the supervision of State-owned Assets Supervision and Administration Commission of the State Council (SASAC).

It is both primarily engaged in representing the Chinese defense manufacturing industry in international sales and the world's third largest art auction house (behind Sotheby's and Christie's).[1][2]

History

With the approval of the State Council, China Poly Group Corp. was set up on the basis of Poly Technologies, Inc. in February 1992. Poly Technologies was formed in 1984 as an arms-manufacturing wing of the People's Liberation Army.[3][2]

Procurement actions during the COVID-19 pandemic

Group entities were active in procurement during the COVID-19 pandemic. Figures from China Customs show that some 2.46 billion pieces of epidemic prevention and control materials had been imported between 24 January and 29 February, including 2.02 billion masks and 25.38 million items of protective clothing valued at 8.2 billion yuan ($1 billion). Press obtained internal documents showing that the group, together with other Chinese companies and state-owned enterprises – such as Country Garden and Greenland Holdings – had an important role in scouring markets in countries around the world to procure essential medical supplies and equipment. The company said its operation was staff-led, and was "driven out of pure compassion for our people who have friends and family in the Wuhan region".[4]

Subsidiaries

References

  1. ↑ Bowley, Graham and Barboza, David. "An Art Power Rises in China, Posing Issue for Reform", The New York Times, 16 December 2013. Retrieved 5 July 2016.
  2. 1 2 Nunns, Cain (25 February 2013). "China's Poly Group: The most important company you've never heard of". Public Radio International. Retrieved 20 July 2019.
  3. ↑ Cooper, Sam; Quan, Doug (26 August 2017). "How a murky company with ties to the People's Liberation Army set up shop in B.C." The Vancouver Sun. Retrieved 20 July 2019.
  4. ↑ Millar, Kate McClymont, Royce (2 April 2020). "Billions of face masks sent to China during bushfire crisis". The Sydney Morning Herald.{{cite web}}: CS1 maint: multiple names: authors list (link)
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