Ng Fung Hong facts for kids

Ng Fung Hong (Chinese: 五豐行) is a big Chinese company. It is owned by a larger group called China Resources. Ng Fung Hong is a major food distributor in Hong Kong. The company handles many things related to food. This includes distributing food, producing and processing it, and trading food items. They also run food retail stores and supermarkets. Ng Fung Hong is also involved in marine fishing and operating places where animals are prepared for meat.

Company History

Ng Fung Hong started in Hong Kong in 1951. Back then, it was a small company that helped trade goods. About twenty years later, it became part of the huge company China Resources. Today, Ng Fung Hong is a complete food business. It manages food from where it's made all the way to your plate. This company works under the guidance of China's Ministry of Commerce.

On October 25, 1995, Ng Fung Hong became a publicly traded company. This means its shares could be bought and sold on the Hong Kong Stock Exchange. In 1998, the company made a profit of HK$525.1 million.

Beef Supply in Hong Kong

Ng Fung Hong has a special role in the beef market. It is the only company approved by China's Ministry of Commerce to send live cattle to Hong Kong. This means Ng Fung Hong has a "monopoly" on this specific trade. A monopoly happens when one company is the only one that sells a certain product or service.

Having only one company control the supply of live cattle was a concern for both the Hong Kong and Chinese governments. They wanted to see if there could be more competition.

In January 2013, Dr. Ko Wing-man, who was the Secretary for Food and Health in Hong Kong, announced an investigation. The goal was to look into the supply of meat from mainland China. They hoped to find a way to break Ng Fung Hong's monopoly. A report on this was expected by April of that year. Later in 2013, the Chinese ministry said it would consider changing how live cattle are supplied to Hong Kong. This would happen once the industry and government agreed on a plan. A panel from the Legislative Council also urged the Hong Kong government to take action on this issue.