[3][failed verification] Poly Property is a constituent of Hang Seng China-Affiliated Corporations Index (Red chip index) He Ping, son of late military officer He Biao [zh], and the son-in-law of the former Chinese leader, late Deng Xiaoping, is the former chairman of the company.
[4] He Ping was also the chairman of the parent company China Poly Group, which had a military background in the past.
[6] In 1993, China Poly Group Corporation acquired 55% stake in the company and converted its business from shipping to conglomerate, as a reverse IPO.
[citation needed] In 2005, CMIC was renamed to Poly (Hong Kong) Investments Limited.
[2]: 126 As Poly Property was incorporated outside mainland China, but controlled by Chinese Central Government indirectly, the company was considered as a red chip.