Sun Wenjie

Sun Wenjie was formerly chairman of China State Construction Engineering Corporation Limited. At roadshow presentations before China State Construction Engineering’s listing, Sun Wenjie promised institutional investors that after the listing the group would step up its support for COLI in several ways: first, by giving it full decision-making authority, and second, by providing financial support. He said at the time that in previous years COLI had made concessions in its capital operations to accommodate the group’s overall listing, and its development had been somewhat slower; once China State Construction Engineering was listed, COLI would certainly accelerate its development and raise its profitability.

According to an April 2010 report by the Economic Observer, COLI’s rapid expansion received support from its parent company: in August 2009 the board of China State Construction Engineering approved a proposal to inject HK$5 billion in capital into China Overseas Holdings. In the same year COLI achieved net profit of HK$7.47 billion and operating revenue of HK$37.3 billion, and the report held that it outperformed Vanke on a number of operating efficiency indicators.