China Poly Group Corporation is a state owned Chinese business group among 102 central state owned enterprises under the supervision of State-owned Assets Supervision and Administration Commission of the State Council (SASAC).
It is both primarily engaged in representing the Chinese defense manufacturing industry in international sales and the world's third largest art auction house (behind Sotheby's and Christie's).[1][2]
History
With the approval of the State Council, China Poly Group Corp. was set up on the basis of Poly Technologies, Inc. in February 1992. Poly Technologies was formed in 1984 as an arms-manufacturing wing of the People's Liberation Army.[3][2]
Poly Corporation Headquarters
The Poly Corporation Headquarters in Beijing, designed by Skidmore, Owings & Merrill (SOM), serves as a central hub for the company's subsidiaries. The building features a 90-meter-tall atrium, enclosed by the world's largest cable-net-supported glass wall, creating a visually striking centerpiece. The structure incorporates sustainable design elements, such as a double-layer low-e glass facade and a roof garden to enhance energy efficiency. Additionally, the building houses the Poly Museum, which showcases China's cultural antiquities, suspended within the atrium by innovative engineering.[4]
Procurement actions during the COVID-19 pandemic
Group entities were active in procurement during the COVID-19 pandemic. Figures from China Customs show that some 2.46 billion pieces of epidemic prevention and control materials had been imported between 24 January and 29 February, including 2.02 billion masks and 25.38 million items of protective clothing valued at 8.2 billion yuan ($1 billion). Press obtained internal documents showing that the group, together with other Chinese companies and state-owned enterprises – such as Country Garden and Greenland Holdings – had an important role in scouring markets in countries around the world to procure essential medical supplies and equipment. The company said its operation was staff-led, and was "driven out of pure compassion for our people who have friends and family in the Wuhan region".[5]
Subsidiaries
- Poly Property
- Poly Real Estate
- Poly Technologies
- Poly Culture
- Poly Theatre
- Poly Auction
External links
References
- Bowley, Graham and Barboza, David. "An Art Power Rises in China, Posing Issue for Reform", The New York Times, 16 December 2013. Retrieved 5 July 2016.^
- Cain Nunns. China's Poly Group: The most important company you've never heard of Public Radio International, February 25, 2013, retrieved July 20, 2019^
- Sam Cooper. How a murky company with ties to the People's Liberation Army set up shop in B.C. The Vancouver Sun, 26 August 2017, retrieved 20 July 2019^
- Poly Corporation Headquarters - SOM som.com, 2024-08-31^
- Kate McClymont, Royce Millar. Billions of face masks sent to China during bushfire crisis The Sydney Morning Herald, 2 April 2020, retrieved 3 April 2020^