New Hopesgroupsis a non-govern mental enterprisesgroupsin the country that takes fodder plants as the leading industry and real estate and financial investment as the secondary industrial platform, stretching its business scopesintosthe sectors of international trade, high-grade printing and electronic technology. With its headquarters based in Chengdu City, Sichuan Province, thesgroupshas 67 exclusively owned or holding enterprises, totaling 6,800 staff members and more than two billion yuan of net assets.

　　Liu Yonghao, chairman of the board of the group, is known as theking of fodder plants in China. He now works as a standing committee member of 9th CPPCC National Committee, vice chairman of the 8th Executive Committee of All-China Federation of Industry and Commerce, deputy board director of China Minsheng Banking Corporation, and vice president of China Fodder Industry Association. Under the inspiration of Chinas policy of reform and opening up, Liu Yonghao resigned from the post of faculty teacher to establish his business in the rural area in 1982. At the end of 1996, he organized the New Hope Group. As early as 1993, Liu Yonghao put forward the new conception that state-owned enterprises and non-governmental enterprises take advantage of each others strength for mutual progress.

　　Consolidating the leading business of fodder plants to expand agricultural industry

　　New Hopesgroupsbears the ambition of promoting agricultural development through science and technology. It builds up its business on the basis of agriculture. In the past 18 years, thesgroupshas always set its foot in the vast rural areas, and so far has built up 46 fodder plant enterprises in south China, southwest China and northwest China, with a combined fodder processing capacity of two million tons annually. It has set up 12,000 sales outlets nationwide. Through stretching its production chains, New Hopesgroupshas expanded its business to the upstream and downstream industries of farm production, livestock breeding, and food processing.

　　Restructuringsintosa listed company for brighter prospect

　　As a most famous agricultural enterprisesgroupsin the country, Sichuan New Hope Agricultural Co. Ltd. succeeded in getting listed in Shenzhen Stock Exchange in 1998, which was a crucial step forward to build up the modern enterprise system. Besides, it has made investments in three other listed companies.

　　Building high-graded residential quarters to inspire urban consumption

　　New Hopesgroupscovers real estate developmentsintosthe second platform of business expansion. It invested 1.2 billion yuan in cooperation with Chengdu Municipal Unified Construction Office to develop the Jingguan New Town, the largest real estate project in the city. It also invested 500 million yuan in northeast Chinas Dalian City to develop a high-graded real estate project with a floor space of 120,000 square meters, which is now under construction.

　　Investing in financial sector to build Minsheng Bank

　　In January 1996, China Minsheng Banking Corporation, mainly invested by non-governmental enterprises in the country, was officially putsintosoperation in Beijing. As a major initiator and investor, Liu Yonghao was elected as the vice president of the bank. And through stock equity transfer, he became one of the largest stock holder of the bank.

　　Walking in a glorious road to repay the society with sincerity

　　New Hopesgroupsalways adheres to the principle of“relying on the policies of the government, developing industries, serving the people, and repaying the society and the country with actual deeds.In April 1994, Liu Yonghao and nine other non-governmental entrepreneurs jointly put forward a proposal inviting the people todevote themselves to the glorious cause of aiding poor peasants to shake off poverty. New Hopesgroupstook the lead in completing the first project of the Glorious Cause by investing 15 million yuan in Liangshan Yi Autonomous Prefecture to build a large fodder factory promising to rid off poverty, with an annual production capacity of 100,000 tons. In the past six years, thesgroupshas successively invested nearly 240 million yuan in establishing 14 aid-the-poor plants in the old revolutionary base areas, areas inhabited by minority ethnic groups, remote areas and poor areas, helping peasants there create economic benefits of 30 million yuan annually.

　　In July 1999, Liu Yonghao and 32 other non-governmental entrepreneurs made a joint declaration in Beijing, known as Credit Declaration, which solemnly declared that they would discipline themselves and take the lead to pay high regards to credit, reputation and good faith in the course of economic activities. They also advocated to invigorate the traditional virtues of the Chinese people with practical actions, and to exert mutual efforts to maintain economic orders in the market. The publication of the Credit Declaration is another significant action taken by Liu Yonghao and the other representative figures of the non-publicly-owned economy after the implementation sof the Glorious Cause.

　　In the picture: Liu Yonghao, chairman of the board.