ZEG Group

What ZEG Group does

ZEG Group (Zhejiang Economic Co-operation Group Co., Ltd. / 浙江省经协集团有限公司) is a diversified, export-oriented Chinese enterprise group headquartered at No. 258 Baishi Road, Zhejiang ZEC Development Building in Hangzhou. Established in October 1984 by decision of the Zhejiang Provincial Party Committee Standing Committee expanded meeting, the group was restructured from a state-owned enterprise into a limited liability company in 2004. It operates three core business segments: (1) trade — bulk commodity domestic trade since 1984 and international trade since 1994, executed through its subsidiary Zhejiang Jingxie International Trade Co., Ltd.; (2) capital investment — active since the 1990s across angel, VC, PE, M&A, directional placements, and secondary market securities, with demonstrated participation in multiple Hong Kong Stock Exchange IPOs; and (3) real estate development — operated through its wholly-owned subsidiary Zhejiang Jinyuan Real Estate Development Co., Ltd. (established 2001, Class 2 real estate qualification, headquartered in Hangzhou), which co-develops residential and commercial projects in the Yangtze River Delta with partners including Hangzhou Binjiang Real Estate Group.

The group serves enterprise clients requiring bulk commodity procurement and international trade services, institutional investment partners across the PE lifecycle, and real estate buyers and co-development partners in Hangzhou and surrounding regions. Its revenue mechanics span transaction-based economics on commodity trade, capital returns on investment activity, and transaction fees on real estate development. The go-to-market is relationship-driven B2B, leveraging Chairman Liu Zhenhui's networks across provincial industry associations (Zhejiang Entrepreneurs Association Vice Chairman, Zhejiang Advanced Economists Association Vice Chairman), academic affiliations (Zhejiang Gongshang University alumni leadership), and government relationships, supplemented by Party-building cooperation agreements with financial institutions such as Hangzhou United Rural Commercial Bank and Hangzhou United Bank. No proprietary technology, AI/ML capabilities, or public APIs are disclosed; the underlying platform consists of traditional trading operations, investment management infrastructure, and real estate development execution.

The company has maintained a AAA credit rating for 23 consecutive years (since 2002) and is regularly ranked among the China Top 500 Service Enterprises, Zhejiang Top 100 Service Enterprises, and Top 500 Zhejiang Merchants. Recent strategic activity centers on deepening Hong Kong capital markets participation (Dongyang Pharmaceutical and Health 160 International listings in 2025), entering technology-adjacent verticals through cooperation with Bavaton Technology (smart transportation), and formal 15th Five-Year Plan strategic repositioning announced in January 2026.

Name

ZEG Group

Legal name

浙江省经协集团有限公司

Website

https://zecgroup.com

Company type

Private

Founded year

1984

Operating status

Operating

Headcount range

1–10 employees

Short description

ZEG Group is a Hangzhou-based diversified enterprise group founded in 1984, operating bulk commodity and international trade, full-spectrum capital investment (VC/PE/secondary market), and Yangtze River Delta real estate development through its subsidiary Zhejiang Jinyuan. It serves enterprise clients and institutional partners with relationship-driven B2B services.

Ownership category

akta.pro rank

Headquarters

HQ city

Hangzhou

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales

Revenue model

1. Bulk Trade and Commodities: Domestic trade commenced in 1984 and international trade began in 1994. The company trades bulk commodities and engages in import/export business, representing its traditional core business and primary revenue driver.
2. Capital Investment: Since the 1990s, the company has conducted equity investment, venture capital, private equity, M&A, listed equity placements, and secondary market securities investment. This has become an important profit source and growth driver. The company invests across the full capital markets value chain and has participated in multiple Hong Kong Stock Exchange IPO events of invested companies.
3. Real Estate Development: Through subsidiary Zhejiang Jinyuan Real Estate Development Co., Ltd., the company develops residential and commercial property projects in the Hangzhou area and broader Yangtze River Delta. Projects are co-developed with partners such as Binjiang Real Estate Group. Real estate has become a significant revenue contributor and has produced award-winning developments.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

ZEG Group operates a diversified enterprise model with three core segments: (1) trade, including bulk commodity trading since 1984 and international import/export trade since 1994, (2) capital investment across the full capital markets value chain including angel, VC, PE, M&A, directional placement, and secondary market securities investment, and (3) real estate development through its subsidiary Zhejiang Jinyuan Real Estate Development Co., Ltd., which develops residential and commercial property in Hangzhou and the Yangtze River Delta.

Product overview

ZEG Group operates as a diversified enterprise group with three main business segments: Trade Industry, Capital Investment, and Real Estate Development. The trade business (including bulk trade and import/export) serves as the traditional core business, having started domestic trade in 1984 and international trade in 1994. The capital investment segment covers the full capital market chain including angel, VC, PE, M&A, directional增发, and secondary market investments. The real estate business is conducted through Zhejiang Jinyuan Real Estate Development Co., Ltd., a subsidiary with Grade 2 real estate development qualification.

Differentiator

Problem solved

Functional benefit

Products and services

• Trade Industry (贸易产业) Bulk commodity trading and import/export business serving enterprise clients and manufacturers. Domestic trade commenced in 1984 and international trade started in 1994, representing the company's traditional core business and primary revenue driver.
• Capital Investment (资本投资) Capital investment services covering the entire capital market industry chain including angel investing, venture capital, private equity, M&A, directional placement (定增), and secondary market securities investment. The company has participated in Hong Kong Stock Exchange IPO events including Dongyang Pharmaceutical (06887.HK) and Health 160 International (02656.HK).
• Real Estate Development (房地产业) Comprehensive real estate services through subsidiary Zhejiang Jinyuan Real Estate Development Co., Ltd., integrating real estate investment, development, property management, commercial operations, and marketing planning. Holds Class 2 real estate development qualification and is headquartered in Hangzhou. Co-developed residential projects with Hangzhou Binjiang Real Estate Group include Yueqianjiazhuang, Yongcuifanghuaxuan, and Chunmanyalu.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered significant and core.

• 八维通科技有限公司 (Bavaton Technology Co., Ltd.)significantStrategic or Co-development Partner · 20 July 2025ZEG Group received Bavaton Technology Chairman Yang Hongxu along with CRRC Information Technology Chairman Chen Kai in July 2025 for discussions on deepening strategic cooperation. Bavaton is a technology company engaged in smart transportation and digital solutions, and ZEG Group had previously cooperated with Hangzhou Linping State-owned Capital Investment and Operation Company alongside Bavaton.
• 沙丘投研院 (Sandy Hill Investment Research Institute)significantStrategic or Co-development Partner · 14 December 2023ZEG Group Chairman Liu Zhenhui was appointed as President of the Yangtze River Delta Alumni Association of Sandy Hill Investment Research Institute in December 2023, and further appointed as Vice President of the Sandy Hill Investment Research Institute Alumni Association General Council in July 2025. Sandy Hill, founded by 清科集团 (Zero2IPO Group), is a premium investment training brand cultivating investors with global vision. The institute also hosts ZEG Group's board meeting activities, indicating a deep institutional partnership.
• 浙江工商大学工商管理学院 (Zhejiang Gongshang University School of Business Administration)coreStrategic or Co-development Partner · 28 March 2021ZEG Group Chairman Liu Zhenhui serves as President of the Zhejiang Gongshang University School of Business Administration Alumni Association, and the company maintains deep cooperation with the university including student internships, talent development, and alumni engagement. Multiple visits between company leadership and school officials demonstrate ongoing strategic collaboration in education and talent.
• 浙商大创业园 (Zhejiang Gongshang University Business Startup Park)significantStrategic or Co-development Partner · 1 January 2020ZEG Group is a shareholder in Zhejiang Gongshang University Business Startup Park. The park received visits from Zhejiang Province Governor Yuan Jiajun and Hangzhou Party Secretary Zhou Jiangyong in 2020, demonstrating the park's prominence as a university-affiliated innovation hub.
• 杭州滨江房产集团股份有限公司 (Hangzhou Binjiang Real Estate Group Co., Ltd.)coreStrategic or Co-development PartnerZEG Group co-develops real estate projects with Hangzhou Binjiang Real Estate Group, one of Zhejiang's most prominent property developers. The two companies have collaborated on multiple residential projects in Hangzhou including '棠前嘉座', '咏翠芳华轩', and '春曼雅庐', all of which have been delivered and recognized for quality.
• 浙江经协国际经贸有限公司 (Zhejiang Economic Cooperation International Trade Co., Ltd.)coreOthersZhejiang Economic Cooperation International Trade Co., Ltd. is a subsidiary of ZEG Group engaged in international trade. Both ZEG Group and this subsidiary were jointly recognized as 'Quality Growth Enterprises' by the Chaohui Subdistrict government in 2023, demonstrating the subsidiary's importance to the group.
• 浙江金园房地产开发有限公司 (Zhejiang Jinyuan Real Estate Development Co., Ltd.)coreOthersZhejiang Jinyuan Real Estate Development Co., Ltd. is a subsidiary of Zhejiang Economic Cooperation Group, established in 2001 and headquartered in Hangzhou. It is a comprehensive real estate enterprise engaged in real estate investment, development, property management, commercial operations, and marketing planning, with Class 2 real estate development qualification.

Scale indicators5 records

Recent moves7 records

Expansion highlights4 records

Regional players

• Longfor Group: Major Chinese property developer with diversified operations including property development, commercial property, rental housing, and property services; comparable for the real estate development arm of ZEG and its Hangzhou-area residential focus.
• Shanghai Industrial Urban Development Group: Chinese conglomerate with property development, infrastructure investment, and hotel operations based in eastern China; comparable for the regional focus and multi-segment enterprise group structure overlapping with ZEG's Yangtze River Delta positioning.
• Zhejiang Provincial Investment Group: Provincial Zhejiang state-related enterprise group with diversified investments across finance, industry, and real estate; the closest geographic and governance comparable for ZEG as another Zhejiang-headquartered state-tied diversified enterprise group.

Broad incumbents

• CITIC Limited: Major Chinese state-affiliated conglomerate with financial services, real estate, energy, and trading operations; provides a blueprint for how diversified Chinese enterprise groups can integrate trade, investment, and property development at scale.
• Fosun International: Diversified Chinese conglomerate operating across multiple unrelated sectors (health, happiness, wealth, intelligent manufacturing) with cross-border investment focus; comparable to ZEG's diversified trade-investment-real estate model at much larger scale and with a Hong Kong listing.
• Beijing Enterprises Holdings: Beijing-headquartered diversified holding company spanning infrastructure, energy, real estate, brewery, and financial services via cross-border subsidiaries; comparable as a Chinese state-related enterprise group operating a multi-segment conglomerate model.
• China Minsheng Investment Group: Private Chinese conglomerate with diversified holdings across financial services, energy, real estate, and trading; relevant as a comparable diversified Chinese enterprise group with PE-style investment activity alongside operating businesses.
• Greenland Holdings: Large state-related Chinese conglomerate with core real estate operations and diversified business lines including finance, energy, and trade; relevant comparable for ZEG's mix of property development, capital deployment, and trading activity.
• Yuexiu Group: Chinese state-related enterprise group with real estate development and financial services alongside other operating businesses; the combination of property focus with adjacent capital investment mirrors ZEG's investment/real estate structure with state-related governance heritage.

Direct peers

• Hangzhou Binjiang Real Estate Group: ZEG Group's primary co-development partner for residential real estate projects in Hangzhou including 钱前嘉座, 咏翠芳华轩, and 春曼雅庐; as one of Zhejiang's most prominent property developers and a direct counterparty in shared projects, it is the most comparable peer for ZEG's real estate subsidiary.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ZEG Group