China Poly Group Corporation is a large central enterprise under the supervision and management of the State-owned Assets Supervision and Administration Commission of the State Council.
It was founded in February 1993 on the basis of its predecessor, Poly Technologies, Inc. In January 1984, under the instruction of the leaders of the Central Committee of the Party, the State Council, and the Military Commission of the Central Committee, Poly Technologies Inc. was co-founded by the pre-Equipment Department of the General Staff and CITIC corporation engaging import and export business of military equipment. In 1992, to meet the needs of reform and open-up policy as well as the development of PLA equipment construction, authorized by the State Council and the Military Commission of the Central Committee, China Poly Group Corporation was founded on the basis of Poly Technologies Inc., and registered at the National Trade and Industry Bureau in February 1993. In March 1993, following the important decision, “the army, the armed police force and the procuratorial, judicial and public security organs no longer engaging in business activities”, the supervision and management of China Poly Group was transferred from General Equipment Department to the Central Work Committee for Large Enterprises, becoming one of state-owned key enterprises. In 2003, performing the functions as investors, SASAC took over the supervision and management of Poly Group.
Adhering to the principal of serving national modernization and national defense modernization, with 25 years' painstaking efforts in the surfy domestic and overseas’ market, China Poly Group Corporation has shaped up a “four-wheeled” development structure of four core industries which are the international trade of Military and Civil Products, the Real Estate Developments, the culture and arts business and the investment in the mineral resources. The Poly Group now has 5 subsidiaries in which Poly Group has direct controlled stakes, i.e. Poly Technologies Inc., Poly Southern Group Co., Ltd., Poly (Hong Kong) Holdings Limited, Poly Culture and Arts Co., Ltd., and Poly Finance Co., Ltd. Its subsidiaries and projects are scattered in Beijing, Tianjin, Shanghai, Chongqing, Harbin, Shenyang, Changchun, Baotou, Jinan, Qingdao, Wuhan, Changsha, Nanchang, Hangzhou, Chengdu, Guangzhou, Shenzhen, Guiyang, Nanning and Hong Kong. It has also established overseas subsidiaries and offices.
Going with the national construction and the development of Chinese characterized Socialism, the Poly Group has had significant achievements in capital scale, economic efficiency, business management, brand innovation, social contribution as well as Party building. Till the end of 2008, the total asset of the group reached 87.62 billion Yuan, up 28.4% over the same period last year, with a total net asset 13.62 billion Yuan, up 13.3% over the same period last year, and achieved operation income 23.44 billion, up 66.8% over the same period last year, with a pre-tax profit of 4.87 billion, up 28.8% over the same period last year. It is the continuing 8th year of 2 figure development. The tax paid is 3.4 billion Yuan. Till June 2009, the group total asset, for the first time, was over 100 billion Yuan, up 29% over the same period last year, and entered the first class of top 50 among 138 central enterprises.
