China Poly Group expands reach in North America
China Poly Group Corporation, founded in 1992 under the management of Stateowned Assets Supervision and Administration Commission, is a well-established business with multiple major business projects in Beijing, Shanghai, Guangzhou, Hong Kong and other places.
It focuses mainly on trade, real estate and culture. Its trade operations are ranked among top import and export firms in China, according to the Ministry of Commerce.
China Poly recently collaborated with China Council for the Promotion of International Trade to invest in the new China International Exhibition Centre.
As the market for real estate skyrockets, Poly Real Estate Group creates a multitude of opportunities for individuals and companies. It is one of the top five property developers in China, engaged in the design, development, construction, and sale of residential and commercial properties. Poly (Hong Kong) Investments Ltd provides an overseas platform for real estate.
Poly Culture & Arts Co invests in a variety of art forms, including theatrical performances, theatre management, as well as film and TV production. This company reached assets up to 382.9 billion RMB ($63.8 billion) as of 2014.
Headquartered in Beijing, Poly Culture Group signed a Memorandum of Understanding to establish a second headquarters in Vancouver. The second international office is underway and should be completed by 2017.
Premier Christy Clark witnessed the signing of the MOU during her third trade mission to Beijing, China, as joined by the Minister of International Trade, Teresa Wat. The MOU not only permits the expansion of the China Poly Group Corporation, but also the expansion of at least three other business lines in the North American market. In order to establish a North American performance base in Vancouver, Clark, along with Wat and representatives from HQ Vancouver met with Beijing Performance and Arts Group (BPAG) to build on the letter of intent. This was executed in hopes to reinforce the partnership with HQ Vancouver.
Poly Culture Group’s main focus is aimed toward performance and theatre management, art business, as well as auction and cinema investment. It wishes to expand its culture and influence into North America as China and Canada further establish business exchanges. As Vancouver represents the economic hub of the Pacific, it offers convenience for China as well as other major economic ports to create bilateral co-operations. Furthermore, Canada is well known for its hospitality, welcoming many new businesses into its heart of economics.
While it focuses on numerous aspects of culture, Poly Culture is key to providing a market for international exchanges in art. Not only does it include artwork collections but also auctioning. This platform achieved 82.2 billion transactions in 2014.
BC Premier Christy Clark (left) meets with Xu Niansha (right), chairman of Poly Culture Group, for the signing of an MOU to establish its North America head office in Vancouver, on Nov 2.