China Resources (simplified Chinese: 华润; traditional Chinese: 華潤; pinyin: Huá Rùn; Cantonese: Wa4 Yeun6) is a group of companies in a wide variety of businesses in Hong Kong and China. Some of its companies use the name in the form of the acronym CRC.
The company started as Liow & Company (聯和公司) in Hong Kong in 1938 and was renamed as China Resources Company (華潤公司) in 1948. In 1983, the company was incorporated as China Resources (Holdings) Company Limited (華潤(集團)有限公司).
The company's main business focus is the import of mainland Chinese products (including energy) to Hong Kong. Its retail operations are organised under the China Resources Retail (Group), and include Chinese Arts & Crafts; it also runs a number of supermarkets in Hong Kong, originally under the CRC name, but now rebranded as Vanguard. It also owns Ng Fung Hong (五豐行), the monopoly meat importer into Hong Kong.
Famous quotes containing the words china and/or resources:
“Ever since I was a little girl, I’ve, I’ve dreamed of havin’ my own things about me. My spinet over there and a table here. My own chairs to rest upon and a dresser over there in that corner, and my own china and pewter shinin’ about me.”
—Frank S. Nugent (1908–1965)
“I always put these pert jackanapeses out of countenance by looking extremely grave when they expect that I should laugh at their pleasantries; and by saying Well, and so?—as if they had not done, and that the sting were still to come. This disconcerts them, as they have no resources in themselves, and have but one set of jokes to live upon.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)