Overseas Chinese Town Enterprises Explained

Overseas Chinese Town Enterprises
Trade Name:	OCT Group
Type:	State-owned enterprise
Area Served:	China
Industry:	Tourism and Culture
Owner:	State Council of China (100%)
Parent:	SASAC of the State Council
Foundation:	1985
Location City:	Shenzhen
Location Country:	China
Footnotes:	in a consolidated basis; equity and profit excluded minority interests; in Chinese Accounting Standards^[1]

Overseas Chinese Town Enterprises Co. is a Chinese state-owned enterprise, supervised by the State-owned Assets Supervision and Administration Commission of the State Council. Overseas Chinese Town Enterprises is the parent company of publicly traded companies Overseas Chinese Town Limited, Overseas Chinese Town (Asia) (a subsidiary of Overseas Chinese Town Company) and Konka Group . It is engaged in cross-sector and cross-industry operation.

The company was founded on 1985 and is headquartered in Shenzhen, China. Since 1985, the company has fostered three leading major businesses in China, which are tourism and related cultural industry, real estate, hotel development, and manufacture of electronic products. As the listed subsidiary, OCT A provides a platform for capital operation of OCT group.

The company is well known for its nationally famous brands, including six Happy Valley amusement parks, Konka Group, Splendid China Folk Village, Window of the World, OCT East, OCT Grand Hotel, Venice Hotel, OCT Harbour and so on.

History

• In 1985, OCT starting from a stretch of mud flat beside Shenzhen Bay.
• In 1994, the former CEO Ren Kelei started reconstructing OCT group's business structure by cutting from more than 30 industries to only 3 main focusing areas.^[2]
• In November 1997, OCT Group incorporated a subsidiary OCT Holding and listed on Shenzhen Stock Exchange.
• In 2000, OCT Group has invested to construct multiple large-scale comprehensive projects, such as Beijing OCT, Shenzhen OCT East, Shanghai OCT, Shanghai Pujiang OCT, Chengdu OCT, Jiangsu Taizhou OCT, Shenzhen Happy Harbor, Yunnan OCT, Tianjin OCT, Wuhan OCT, Xi’an OCT, Qingdao OCT, and so on.
• In 2004, OCT had been granted a title of the first batch of “National Culture Industry Demonstration Base” by the State Ministry of Culture and had been granted the title of one of the first two “National Culture Industry Demonstration Park Area” by the State Ministry of Culture in August 2007.
• In 2010, OCT Group has been granted the title of “Top 30 Culture Enterprise” by the Publicity Department of the Chinese Communist Party.^[3]
• In 2015, consulting and design firm AECOM ranked OCT parks China as #4 of Top 10 Worldwide Theme Park Groups with 30 million visitors in the year.

List of amusement parks

Park name	Location	Opening date	Status	Roller Coasters	Ref
		2019			^[4]
		1998			^[5]
		2006			^[6]
		2009			^[7]
		2009			^[8]
		2012			^[9]
		2013			^[10]
		2017			^[11]
		2020			^[12]
		2010			^[13]
		2017			^[14]
		2020			^[15]
		1997			^[16]
		1994			^[17]

Notes and References

1. Web site: 2015 Annual Report. 29 April 2016. 16 November 2016. Overseas Chinese Town Enterprises. Shanghai Clearing House. Chinese.
2. Web site: 华侨城集团总经理任克雷与网民在线交流. 2009. SASAC of the State Council. Chinese.
3. Web site: 今日华侨城. OCT Today. Overseas Chinese Town Enterprises. Chinese.
4. Happy Coast Theme Park. Shunde, Foshan, Guangdong, China. 16582. June 12, 2012.
5. Happy Valley. Nanshan, Shenzhen, Guangdong, China. 5166. 17 November 2012.
6. Happy Valley. Chaoyang, Beijing, China. 5689. 17 November 2012.
7. Happy Valley. Jinniu, Chengdu, Sichuan, China. 6253. 17 November 2012.
8. Happy Valley. Songjiang, Shanghai, China. 6259. 17 November 2012.
9. Happy Valley. Hongshan, Wuhan, Hubei, China. 9221. 17 November 2012.
10. Happy Valley. Dongli, Tianjin, China. 10352. 17 November 2012.
11. Happy Valley. Yubei, Chongqing, China. 12158. 17 November 2012.
12. Happy Valley. Nanjing, Jiangsu, China. 15666.
13. Knight Valley. Yantian, Shenzhen, Guangdong, China. 9038. June 12, 2012.
14. Visionland. Yufeng, Liuzhou, Guangxu, China. 13782. June 12, 2012.
15. Visionland. Dingcheng, Changde, Hunan, China. 16508. June 12, 2012.
16. Window of the World. Kaifu, Changsha, Hunan, China. 5208. June 12, 2012.
17. Window of the World. Nanshan, Shenzhen, Guangdong, China. 9329. June 12, 2012.