At that time, Hong Kong is a British colony and not yet handover back to the People's Republic of China.

Since COSCO Pacific was incorporated in Hong Kong but indirectly controlled by the Chinese government, the company is considered as a red chip.

From 1997[6] to 2007, COSCO Pacific was a minority shareholder (20%) of Liu Chong Hing Bank.

[7][8] In 2003, COSCO Pacific is a co-investor of a phase of Qingdao Qianwan Container Terminal, for 20% shares of the SPV that carry the actual investment.

[11] In 2008, COSCO Pacific made a bid for a 35-year concession to operate the container port of Piraeus.

[17] Xi described the port as the beginning of a new maritime-land corridor between China and Latin America.