Seven-man company grows into $3.4b trade behemoth

Xiamen International Trade Group started with seven people in 1980. Gao Shaoyong, president of ITG, said: "We had just a couple of chairs, two bicycles and a rented office."

Today, Xiamen ITG commands a valuation of 22.1 billion yuan ($3.35 billion). Xiamen ITG Holding, an A-share listed firm of the group, has since 2017 been among the Fortune 500 giants, one of the four such enterprises from Fujian province.

The year 1980 was key to its flying start as Xiamen city was designated as a special economic zone. Ever since, ITG grew and grew in its import-export business spanning bulk trade, financial services, supply chain management and retail sectors.