Beijing Capital Group Co., Ltd., also known as BCG or the Capital Group (simplified Chinese: 北京首都创业集团有限公司; pinyin: Běijīng shǒudū chuàngyè jítuán yǒuxiàn gōngsī, abbreviated 北京首创, pinyin Běijīng shǒu chuàng), is a state-owned real estate enterprise directly under the supervision of the State-owned Assets Supervision and Administration Commission of the Beijing Municipality (Beijing SASAC). The Beijing Capital Group Co. was incorporated in 1994 and is primarily a real estate firm. Headquartered in Beijing, BCG has a business network covering China as well as overseas markets, five listed subsidiaries, and total assets of over RMB 180 billion (US$30 billion).
Core businesses
The Beijing Capital Group has four core businesses:
- Environmental protection, including water, solid waste, air pollution, and environmental technology. The key water subsidiary is Beijing Capital Co., Ltd, founded in 1999 and listed in 2000 (stock code: 600008). In 2011, the Group's Capital Environment Holdings Ltd. subsidiary entered the solid waste disposal sector by acquiring the New Environmental Energy Holdings Ltd. (03989.HK), which was subsequently renamed Capital Environment Holdings Ltd.
- Infrastructure, including road, rail, and subways. Beijing Capital Group is a major investor in the Beijing Subway in a joint venture partnership with the Hong Kong MTR.
- Real estate: Beijing Capital Land Ltd. (BCL) is the flagship company in the Group's real estate business, and is listed on the Hong Kong Stock Exchange (stock code: HK2868).
- Financial services/funds, including the Beijing Agricultural Investment Co., Ltd, set up in 2008.
Overseas investment
France
The Sino-EU Economic and Trade Cooperation Zone, built by BCG in 2012 in Châteauroux, France, was the first large-scale comprehensive industrial park in a developed country established and operated by a Chinese enterprise.
Despite these 2012 announcements, in 2020 the investments were not finalized, and the forecasted industrial park was no longer planned to be set-up in operation.
New Zealand
The Beijing Capital Group acquired Trans-Pacific Industries (TPI) in New Zealand in June 2014 for NZ$950 million and set up the Beijing Capital Waste Management NZ Ltd (BCWM NZ). Regulatory approval was received from the New Zealand Government's Overseas Investment Office (OIO) in October 2013. In the New Zealand solid waste disposal sector, BCWM NZ has the largest market share, at 31 percent. As of December 2015 BCG's investment in BCWM NZ is the single largest Chinese direct investment in New Zealand. In line with its application for Overseas Investment Office approval, Beijing Capital Group announced it would invest NZ$98 million in BCWM NZ to buy new assets, develop landfill capacity, and introduce new anaerobic digestion technology at the Redvale landfill in Auckland.
References
- 中国投资学会 (2002). 中国投资年鉴 (in Chinese). 中国金融出版社. p. 139. ISBN 978-7-5011-5948-2. Retrieved 2024-07-16.
- "Beijing Capital Group Co Ltd". Bloomberg News. 18 March 2022.
- Beijing Capital Group website
- China Daily article 10 July 2013, accessed 28 December 2015
- LeMonde.fr - In Châteauroux, the Sino-European hub has fizzled out (in French)
- New Zealand Overseas Investment Office .
- Beijing Capital Group website
- Overseas Investment Office .
- Jamie Gray, business reporter New Zealand Herald