China Resources (Group) Co., Ltd. (hereinafter referred to as China Resources or China Resources Group) was formerly the "United Bank" established by 1938, and its headquarters is in Hong Kong. 1948 United Import & Export Corporation was reorganized and renamed as China Resources Corporation, and 1952 its subordinate relationship was changed from the Central Office to the Central Ministry of Trade (now the Ministry of Commerce). 1983, China Resources Corporation was reorganized to form China Resources (Group) Co., Ltd. 1999 12. China Resources Group was decoupled from MOFTEC and listed for central management. In 2003, China Resources Group was directly supervised by the State Council State-owned Assets Supervision and Administration Commission and listed as a key state-owned enterprise.