Is CR Vanguard a state-owned enterprise or a private enterprise?

As a state-owned enterprise, CR Vanguard Co., Ltd. (CR Vanguard for short) is one of the largest retail chain enterprises in China and the first-class profit center of China Resources (Group) Co., Ltd., the largest and most powerful state-owned holding enterprise group in Hong Kong.

Extended answer:

1On February 4, 1984, China Resources Purchasing Co., Ltd., a subsidiary of China Resources Group, was incorporated in Hong Kong. 1999 was renamed China Resources Supermarket (Hong Kong) Co., Ltd. In the early 1990s, China Resources Supermarket entered the mainland.

In August of 20001year, China Resources Group acquired Shenzhen Wanjia Department Store. In August, 2002, CR Vanguard injected China Resources Venture Co., Ltd., the flagship company of China Resources Group. In May 2004, suguo supermarket, a well-known retail enterprise under China Resources Holdings, was acquired by China Resources Group in March 2007.

CR Vanguard has four business development regions, namely East China, South China, North China and Hong Kong, and mainly operates three formats: hypermarket, lifestyle supermarket and convenience supermarket.