China Arts and Crafts Import & Export Co., Ltd.

China Arts and Crafts Import & Export Co., Ltd. (hereinafter referred to as "China Arts General Corporation") was established on January 1, 1966 with the approval of the State Council and was affiliated to the former Ministry of Foreign Economic Relations and Trade. Its history can be traced back to 1950, when the China Drawnwork Shantou Import & Export Company, which it owned, was founded, officially beginning the history of China Arts General Corporation. China Arts General Corporation was a management-oriented company under the former Ministry of Foreign Economic Relations and Trade. After 1988, it began to expand its self-operated business. In 1999, it was placed under the leadership of the former Central Enterprise Work Commission, and in 2003, it was supervised by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC). In February 2007, it was jointly reorganized into China Arts (Group) Corporation and became its wholly-owned subsidiary. In August 2017, upon approval by the State Council, China Arts (Group) Corporation was entirely merged into China Poly Group Corporation, and China Arts General Corporation became a third-level subsidiary of Poly Group. In December 2017, China Arts General Corporation underwent restructuring and was renamed China Arts and Crafts Import & Export Co., Ltd. In the early days of the People's Republic of China, when industrial development was relatively backward, arts and crafts, leveraging their high artistic value and long export history, made significant contributions to the country's foreign exchange earnings and were always highly valued by the Party Central Committee and the State Council. By the 1980s, China Arts General Corporation had established 48 branch companies in various provinces, autonomous regions, and municipalities directly under the central government, as well as separate planning cities across the country (except for Taiwan and Tibet). It also set up representative offices and wholly-owned, joint-venture, and cooperative companies in Hong Kong, Macao, the United States, Japan, Germany, France, the United Kingdom, Italy, Dubai, Australia, and other countries and regions, employing over 10,000 staff. The company's head office was located at the Export Building, No. 82 Dong'anmen Street, Beijing, and it was one of the six major export enterprises in that building. China Arts General Corporation made outstanding contributions to the development of China's foreign trade, once ranking 16th among the top 500 enterprises in national import and export volume. Over decades of development, the company, based on both international and domestic markets, made positive contributions to inheriting excellent Chinese culture, promoting cultural innovation, expanding foreign exchanges, and boosting the development of China's arts and crafts export business. In recent years, China Arts General Corporation has actively promoted corporate innovation and development, pushed for the optimization and adjustment of its business structure, intensified efforts to dispose of inefficient and ineffective assets, and focused its main business on asset operations. Through several years of transformation and exploration, the company's operations have basically achieved a virtuous cycle. In recent years, operating revenue, total profit, and net profit have all exceeded targets, and the company has ranked leading for three consecutive years in Poly Arts' assessments. The Party Committee of China Arts General Corporation has been rated as an advanced grassroots Party organization by the Party Committee of Poly Group and the Party Committee of Poly Arts. Looking ahead, under the wise and visionary leadership of the Party Committee of Poly Arts, China Arts General Corporation will remain true to its original aspiration, forge ahead diligently, strive to become a benchmark for Poly Arts' asset projects, and make greater contributions to the rejuvenation and forward progress of Poly Arts.