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China Resources to build RMB 50-bln cultural industrial park

Aug. 6, 2012 (China Knowledge) - China Resources (Holdings) Co Ltd (China Resources), an industry conglomerate and parent company of China Resources Enterprise Ltd<291> and China Resources Land Ltd<1109>, has signed a letter of intent with the government of Luoyang City of Henan Province to build a cultural industrial park in the city, sources reported.

China Resources plans to invest RMB 50 billion over the next ten years in the park, which will include cultural and tourism, commerce and trade, and real estate projects.

China Resources (Holdings) is also the parent company of China Resources Power Holdings Co Ltd<0836>, China Resources Cement Holdings Ltd<1313>, China Resources Gas Group Ltd<1193>.

In 2011, China Resources realized a total turnover of HK$ 336 billion and a total profit of HK$ 35.8 billion. The group operates in seven major sectors, namely, the consumables (retail, brewery, food and drinks), power supply, real estate, cement, gas, medicine and finance.

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