New World was founded in 1970 as a property developer and was listed on the Hong Kong
Stock
Exchange two years later. During the past two decades the Company has gradually expanded
its core businesses into hotels, infrastructure, services and telecommunications. Today,
it is a constituent stock of the Hang Seng Index and has a market capitalization of over
HK$50 billion
(US$ 6.5 billion). The company is also the largest Hong Kong investor in China. As of
November
1997, the Company has invested more than US$3.5 billion in China.