Annual Report 2020

China Merchants China Direct Investments Limited Annual Report 2020 11 INVESTMENT MANAGER’S DISCUSSION AND ANALYSIS (CONTINUED) REVIEW OF INVESTMENTS The following table shows the major investment projects held by the Fund as at 31 December 2020: Name of projects Location of headquarters Main business Listed (Stock Exchange)/ unlisted Carrying value Percentage of total assets Percentage of net assets US$ million % % Financial Services: # 1. China Merchants Bank Co., Ltd. Shenzhen, Guangdong Banking Shanghai Stock Exchange 372 38.26 47.94 # 2. China Credit Trust Co., Ltd. Beijing Trust management Unlisted 216 22.22 27.84 # 3. JIC Leasing Co., Ltd. Beijing Finance leasing Unlisted 50 5.11 6.40 4. China Reinsurance (Group) Corporation Beijing Reinsurance Hong Kong Stock Exchange 7 0.71 0.88 # 5. China UnionPay Co., Ltd. Shanghai Financial payment Unlisted 47 4.86 6.09 6. China Media (Tianjin) Investment Management Co., Ltd. Tianjin Fund management Unlisted 1 0.14 0.17 Sub-total: 693 71.30 89.32 Culture, Media & Consumption: # 7. China Media Creative Industry Private Equity (Shanghai) Centre (Limited Partnership) Shanghai Media investment Unlisted 28 2.86 3.58 8. NBA China, L.P. Beijing Sports marketing Unlisted 3 0.31 0.38 9. Oriental Pearl Media Co., Ltd. Shanghai Multimedia Shanghai Stock Exchange 2 0.22 0.27 10. Yunnan Jinlanmei International Travel Investment Development Co., Ltd. Xishuangbanna, Yunnan Travel Unlisted 1 0.07 0.09 # 11. Rong Bao Zhai Culture Co., Ltd. Beijing Artwork marketing Unlisted 22 2.27 2.85 12. Qinghai Provincial Qinghai Lake Tourism Group Co., Ltd. Xining, Qinghai Travel Unlisted 5 0.57 0.71 Sub-total: 61 6.30 7.88