C&D's preceding company was Xiamen Construction and Development Corp, which was established at the same time when Xiamen Special Economic Zone was set up in 1980. Through 31 years earnest effort, C&D is thriving to grow up. It has developed into a large-scale industry & investment enterprise group in Fujian Province covering the business scope of supply chain operations, real estate development, tourism&hotels and conference&exhibition and so on, discovering a development mode for state-owned enterprises.
In the past 31 years, transforming from an administrative company into an operational enterprise, promoting from a small state-owned company to a large-scale industry & investment enterprise group, every step forward is accompanied by C&D people’s efforts and wisdom, every achievement of business reflects C&D people’s untiring and inherently innovative spirit.
Emerging at the Right Time, Main Force of Special Zone Construction
In December 1980, along with the establishment of Xiamen Special Economic Zone, C&D's preceding company — Xiamen Construction and Development Corp was set up.
C&D was a local state-owned company established as an important window to introduce foreign capital, technology and equipment. Designated as a representative of Xiamen Special Economic Zone and Xiamen municipal government, C&D was responsible for associating with and receiving foreign customers, establishing new Sino-foreign joint ventures, attracting foreign capital, reforming originally state-owned enterprises. During these four years, C&D participated in negotiating and signing contracts for 471 joint ventures and cooperation projects, 22 of which belonged to C&D.
In 1984, Xiamen Special Zone was expanded into an inclusion of the whole island from the original 2.5 square km2 of Huli District. Besides introducing foreign capital and receiving foreign customers as a representative of Xiamen municipal government, C&D gradually started to invest in Xiamen Airline Co., Ltd. and Xiamen International Bank and some other Sino-foreign joint ventures, cooperative enterprises and domestically associated enterprises. In May 1985, its local import and export trading rights was approved by Xiamen municipal government and in 1987 it was vested national foreign trade operation rights. Since then, C&D’s operational strategy of “to attract investment by trading and to promote trading by investment” has been carried out and its trade volume has enjoyed doubling growth annually. It followed that C&D transformed from a local government and enterprise united administrative company into a comprehensive business enterprise specializing in investment and trading.
Reforming and Readjusting, Realizing Simultaneous Increase of Scale and Profit
Since 1988, C&D launched a series of important reforms in interior running mechanism, successively carrying out management systems such as economic target responsibility system, one-year appointment system of cadres, and overall labor contract system. Subsequently, C&D put forward the assignment system of connecting personal income with position responsibilities and contributions, as well as establishing auditing system for managers leaving their posts. These reform measures are in advance of Xiamen enterprises and successfully motivated the employees, arousing their enthusiasm and ensuring the rapid business development.
At the same time C&D made great efforts to clear up a range of share-entering companies that had poor management and low economics returns by means of liquidation, termination and transference. It successfully controlled the negative influence of its early wide expansion and vivified the assets. The company operation has entered into virtuous circle track since 1996 and C&D was officially restructured and renamed to be Xiamen C&D Corporation Limited.
While the business scope and economic benefits are increasingly growing, C&D actively engages itself in capital operation field and successively integrates Lianfa (Group) Co., Ltd, Xiamen Overseas Chinese Electronic Co., Ltd. Yeohwa Hotel, and Xiamen International Conference and Exhibition Center. In 1998, Xiamen C&D Inc. was incorporated and listed successfully. Besides, it increased shares of Xiamen Airline Co., Ltd, purchased shares of Xiamen Faratronic Co., Ltd. and Xiamen Shipbuilding Co., Ltd., reconstructed Xiamen International Trust Co., Ltd., and established King Dragon Life Insurance Co., Ltd. — a joint venture with Taiwan Life Insurance. After several years of rapid development, C&D has achieved substantial increase in economic indicators such as total asset, net asset, turnover and profit.
Expanding Major Businesses, Steadily Enhancing Comprehensive Strength
Since 1988 and basing on three-year cycles, C&D has consecutively instituted and executed four “three-year development layouts”. In accordance to the development orientation and objective as prescribed in each layout, C&D takes various planned and organized measures to promote its rapid development with major businesses such as trade & logistics, real estate development, tourism & hotels, and conference & exhibition. Moreover, it successively incorporated C&D Real Estate Co., Ltd. and C&D Tourism and Hotels Co., Ltd. With the support of a range of increasingly developing major businesses, the scope and profit of the group increases speedily, the management structure appears more distinct, and the brands are enjoying a growing awareness, reputation and influence. To make a long story short, the comprehensive strength of the group has turned a new page.
In the field of trade and logistics, C&D Inc. is oriented by specialized operation and continuously updates and optimizes commodity structure. In 2007, it gradually transformed into a “supply chain operator” based on the original trade and logistics businesses. In 2010 its turnover reached over RMB 66 billion Yuan, having ranked among the forefront of Top 500 Foreign Trade Enterprises in China for many consecutive years.
In the field of real estate development, C&D Real Estate Co., Ltd and Lianfa (Group) Co., Ltd., held by C&D Inc., have been enhancing program development and marketing force in recent years and, with a great increase of business scope and economic benefits, they have both been listed in Top 100 Real Estate Enterprises in China and acquired Grade A Qualification for National Real Estate Development.
In the field of tourism and hotels, in possession of “Yeohwa” high-end hotel brand, “Yihao” boutique business hotel brand and “C&D International Travel Service” tourist service brand, C&D Tourism and Hotels Co., Ltd. has been ranking in the first place in tourist industry of Fujian Province as far as comprehensive strength is concerned. Both of the two big brands — Yeohwa Hotel and C&D International Travel Service were appraised “China Tourism Well-Known Brands”.
In the field of conference and exhibition industry, Conference & Exhibition Group has held over 1,000 exhibition conferences accumulatively over the past 10 years. In addition, a wide variety of important exhibitions have been held in the exhibition center, including ten years of China International Fair for Investment and Trade, the world’s second largest Xiamen International Stone Fair, and the world’s largest Xiamen International Buddhist Items & Crafts Fair. Its business scope has been ranking the top ten among nationwide exhibition enterprises.
