Ng Fung Hong facts for kids
| State-owned enterprise | |
| Industry | wholesale food |
| Headquarters | Hong Kong |
|
Area served
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Mainland China Hong Kong |
| Parent | China Resources |
Ng Fung Hong (Chinese: 五豐行) is a large Chinese company. It is owned by another big company called China Resources. Ng Fung Hong is listed on the stock exchange in Hong Kong. The company says it is the biggest food supplier in Hong Kong. They work in many areas, including distributing food, making and selling food, and running supermarkets. They also do marine fishing and operate places where animals are prepared for food, called abattoirs.
Company History
Ng Fung Hong started in Hong Kong in 1951. It began as a small trading company. About 20 years later, it joined the much larger company, China Resources. Today, Ng Fung Hong handles many steps in the food business. This means they manage food from where it's made all the way to where it's sold. The company works under the guidance of China's Ministry of Commerce.
On October 25, 1995, Ng Fung Hong became a public company. Its shares were listed on the Hong Kong Stock Exchange. In 1998, the company made a profit of HK$525.1 million.
Beef Supply Monopoly
Ng Fung Hong is the only company allowed by the Chinese government to send live cattle to Hong Kong. This means they have a "monopoly" on this business. A monopoly happens when one company controls almost all of a certain product or service. This situation has caused some concern for both the Hong Kong and Chinese governments.
In January 2013, Dr. Ko Wing-man, who was the Hong Kong Secretary for Food and Health, announced a review. He wanted to investigate the supply of meat from mainland China. The goal was to find a way to break Ng Fung Hong's monopoly. The results of this investigation were expected by April of that year.
Later in 2013, the Chinese Ministry reportedly agreed to consider changes. They would look into reforming the live cattle supply to Hong Kong. This would happen once the industry and government agreed on a plan. A group from the Legislative Council of Hong Kong urged the Hong Kong government to act. At that time, the Hong Kong government said it was still thinking about the issue.
