On 25th March, 2003, the board of directors of China Resources Enterprises, Limited announced a proposal of group restructure under which the business and assets respectively of ready-mixed concrete and cement shall be transferred to China Resources Cement Holdings Ltd., which shall be spun off and listed on the main board of the Stock Exchange of Hong Kong Limited by way of introduction. Global has been appointed as the PRC legal counsel to the issuer, and the team headed by LIU, Jinrong is advising on the PRC laws.