Yue Xiu Group acquired 75% equity interests in Chong Hing Bank (Hong Kong). Chong Hing Bank remained its listing status after the acquisition.


The three listed companies of Yue Xiu Group, namely, Yuexiu Property, Yuexiu Transport Infrastructure and Yuexiu Real Estate Investment Trust, all received investment grade ratings.


Yuexiu Financial Holdings was founded, marking the final establishment of Yue Xiu Group’s third core business – the financial sector.


Yue Xiu Group sold all equity interests held in the joint venture to China Resources Cement Holdings Limited, and officially withdrew from the cement business.


Guangzhou Investment officially spun off the toll road business and changed its name to “Yuexiu Property Company Limited”, thus becoming a real estate developer with a focus on property operations.


The spin-off of paper-making business from Yuexiu Investment was officially approved at a general meeting of shareholders.


Yue Xiu Group successfully split four major rental properties, namely, City Development Plaza, White Horse Building, Victory Plaza and Fortune Plaza, and the Group was listed in Hong Kong in the form of a real estate investment trust (REIT), becoming the world’s first REIT to invest in China’s property market.


Yue Xiu Group injected a combination of 95% total assets of City Construction Group and 100% total assets of Yuexiu Property in Hong Kong into Yuexiu Investment.


The reorganization plan of Yue Xiu Group was approved by the State Council, in which assets including Guangzhou City Construction Group were injected into Yue Xiu Group in Hong Kong.


Yuexiu Transport was spun out from Yue Xiu Group for listing, and it became the first Hong Kong-listed PRC infrastructure stock.


Yuexiu Enterprises split three real estate companies (which were all wholly-owned subsidiaries of the enterprise) with relatively good performances located in Hong Kong, Macau and Guangzhou, thus establishing Guangzhou Investment Company Limited. It was successfully listed in Hong Kong, becoming the ninth red chip company listed in Hong Kong. At the same time, Yuexiu Enterprises was reorganized as Yuexiu Enterprises (Holdings) Company Limited.


Yuexiu Enterprises Company Limited was incorporated in Hong Kong as a “window company” for Guangzhou Municipal Government to conduct economy and trade-related works in Hong Kong and Macau.