In 1980, along with the establishment of Xiamen Special Economic Zone, C&D's preceding company — Xiamen Construction and Development Corp was set up.Under the guidance and supports of Xiamen Municipal Government and through more than thirty years of earnest efforts, C&D 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, conference&exhibition and investment and so on, discovering a development mode for state-owned enterprises.
Initial stage (1980-1984)
On August 26, 1980, Xiamen Special Economic Zone was officially inaugurated. Due to the demands of receiving foreign businessmen, negotiating projects, transforming old enterprises and so on, Xiamen Special Economic Zone Construction and Development Corporation (C&D Corporation's predecessor) came into being in December 1980 approved by Xiamen Municipal Government and Xiamen Special Economic Zone Administrative Committee.
As an export-oriented investment and development company affiliated to the local government, C&D Corporation not only had government functions but also had enterprise property at that time and it was the only window in Xiamen Special Economic Zone to introduce capital, technology and equipments from abroad. Under the condition of lack of capital, talents and experience of introducing foreign investment, C&D Corporation extensively involved in reception and negotiation activities, actively attracted various businessmen to invest and set up new enterprises in Xiamen and introduced advanced foreign technology and facilities to transform old enterprises with the exploration spirit of "crossing the river by feeling the stones". The achievements are as follows: Xiamen's first foreign-invested project of processing and consigning Camel filter-tipped cigarettes, Xiamen's first Sino-foreign joint real estate project Overseas Chinese New Village, the first world-renowned brand production line in Xiamen City and even in Fujian Province-CoCa Cola's bottling line, Xiamen's first wholly foreign-owned enterprise Yinhua Brickyard, Xiamen's first Sino-foreign joint trading company Huafeng Trading Company, and the first local airline all over the country-Xiamen Airlines.
Transition stage (1984-1988)
From 1984, C&D Corporation started to change the philosophy of investment attraction and transformed from a simple window company to an entity company, from a matchmaker doing negotiations to a company focusing on the implementation of projects. C&D Corporation actively participated in investing in number of projects, set up joint ventures, cooperation and enterprises with internal connections, introduced advanced technology and facilities to transform old enterprises, and made major breakthrough in finance and real estate development. C&D Corporation successively participated in China's first Sino-foreign joint bank Xiamen International Bank, invested in Fujian's first Sino-foreign joint real estate venture Huicheng Development Co., Ltd and C&D Trust and Investment Company which is the only financial agency wholly invested by the enterprise in Xiamen.
Meanwhile, C&D Corporation was actively trying to develop trade business. It had the local import and export rights approved by Xiamen Municipal Government in May 1985, and then in 1987 it also had the import and export rights in every port all over the country approved by the Ministry of Foreign Trade and Economic Cooperation. All these greatly promoted the trading business.
Reformation stage (1988-1996)
C&D Corporation started to deepen the reform of internal operation mechanism and liquidate and rectify the investment projects with improving economic benefits as the core. It tried out post appointment system and management objective responsibility system which changed the phenomenon of "lifetime post" and "average wage". Appointment system in business department was further promoted based on the implementation of appointment system in the posts of manager, vice manager and major salesman, which connected responsibility, right and benefits, fully stimulated and gave play to staff's enthusiasm and achieved a better talent flow internally. With further deepening connotation reform and reforming the distribution system, the system of individual income linked with post responsibility and contribution was established. System of cadre assessment at the end of the year and audit system for manager's departure were also carried out. Deeply implemented the Labor Law, C&D Corporation was the first one to carry out labor contract system with all the staff among the state-owned enterprises in Xiamen and establish worker housing commercialization system by abolishing welfare housing so as to closely connect workers' benefits with the enterprise's fate. With the reform measures mentioned above, C&D Corporation established a series of effective internal management systems, strengthened enterprise's self-control mechanism and built the basic framework of Group's enterprise-oriented operation.
Stage that the core industries are basically established (1996-2003)
In early 1996, the company name was officially changed to Xiamen C&D Corporation Limited and the guidelines of insisting on production operation and capital operation simultaneously was determined.
During this period, on the one hand, C&D Corporation cleared up the assets that were not relative to or had few effects on the main business by transfer, restructuring and divestiture; on the other hand, it promoted the development of main business which had already had foundation to a certain extent by reorganization, acquisition and merger. Therefore, the asset and operation scale increased speedily. C&D Corporation got 44% of the equity of Lianfa (Group) Co., Ltd. by the way of contract followed by acquisition and held 95% of Lianfa (Group) Co., Ltd's equity in total, became the controlling shareholder of Xiamen Overseas Chinese Electronic Co., Ltd., the leading enterprise in electronic industry in Xiamen, with holding 52.3495% of its equity by acquisition. Xiamen C&D Inc. was reorganized by the way of converting the import & export department related to port economic business and the high-quality assets of wholly-owned subsidiaries to shares and raising money, officially issued A shares and was successfully listed on the Shanghai Stock Exchange on June 16, 1998. As the sole sponsor, C&D Corporation held 72.79% of the 240.5 million shares of C&D Inc. C&D Corporation took over new Yeohwa Development Company and Yeohwa Hotel, the sole five-star hotel in Xiamen, by undertaking credits and debts, prepared to build and took over International Seaside Hotel and Golden Coast Hotel (now is called Yiho Business Hotel) and so on. These hotels together with C&D International Travel Service Co., Ltd formed the new tourism and hotel industry of C&D Corporation who took over International Conference and Exhibition Center and gradually cultivated it as the new core industry.
Stage that the core industries develop rapidly (2003-2014)
Since 1998, C&D has continuously established and implemented multiple "development plans". According to the development directions and targets of the plans established, C&D has taken various measures step by step to push forward the quick development of core businesses such as supply chain operation, real estate development, tourism & hotels and conference & exhibition, etc. Under the support of various main businesses which are growing stronger and stronger, the scale and benefit of our Corporation witnesses a quick increase; the management structure becomes clearer; the brand awareness, reputation and influence are also significantly promoted; and the comprehensive strength of our Corporation reaches a new level.
For supply chain operation, C&D Inc. is focusing on pulp & paper products, iron & steel products, mineral products, chemical products, agricultural products, mechanical & electrical products, light textile products, automobile, wine products and logistics services, providing "one-stop" services including raw material and part purchase, transportation, storage, technical service sales, settlement and delivery to end customers for clients worldwide. The main indexes including main operation revenue, net profit and net asset have maintained an increment speed of 30% every year, having ranked among the forefront of Top 500 Foreign Trade Enterprises in China for many consecutive years
For real estate development, C&D Real Estate Co., Ltd and Lianfa (Group) Co., Ltd. have been enhancing program development and marketing force in recent years, boasting of a great increase in business scope and economic benefit. They have both been listed in Top 100 Real Estate Enterprises in China, acquired Grade A Qualification for National Real Estate Development, and extended their development footprint to nearly 20 cities in China.
For tourism and hotels, Xiamen C&D Tourism and Hotels Incorporation has always been focusing on the overall improvement of business scale and service quality. Currently, it is investing and operating more than 10 high-level starred hotels in Xiamen, Fuzhou, Quanzhou, Wuyi Mountain and other places, and exerting itself to create "C&D", the high-end starred hotel management brand, which has won the titles of "Top 10 Brand Hotel Management Companies" and "Most Influential Hotel Group in Investment Management" of Sino-foreign Hotels Platinum Award successively. Moreover, C&D International Travel Service under its management has been ranking at the first place of Top 10 International Travel Agencies in Fujian Province and at the front of Top 100 Travel Agencies in China for years.
For conference and exhibition, Conference & Exhibition Group is now operating and managing three large-scale modern venues, namely, Xiamen International Conference and Exhibition Center, Xiamen International Conference Center and Fuzhou Strait International Conference & Exhibition Center, and one high-end concert hall, with a total area of over 910,000 square meters. It has successfully undertaken more than 3,000 exhibitions of different kinds and organized many international exhibitions including China Xiamen International Stone Fair having the largest scale of its kind around the world and China Xiamen International Buddhist Items & Crafts Fair. It has become one of the top ten most influential exhibition enterprises, with its business scope ranking the top ten among nationwide exhibition enterprises.
Transformation and Innovation Stage (from 2015 to present)
In the face of the "new normal" of China's economic development, led by transformation and innovation, the company promoted its core industries to continuously improve core competitiveness and sustainable development capabilities. Besides, it promoted the rapid growth and asset appreciation of emerging industries through a variety of capital operations to realize connotative development of extension expansion. By the end of 2017, the company's assets exceeded 210 billion Yuan, and its annual operating income exceeded 220 billion Yuan, ranking 488th among the Global Fortune 500 companies in 2017, 112th among the top 500 Chinese companies and 49th among the top 500 Chinese service companies.