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New Hope Group is one of the largest and “eldest” private enterprises in China. The first business unit was founded in 1982, in the beginning of China’s economic reform. Since then, New Hope has gradually expanded from animal feeds industry into dairy, chemicals, real estate, financial services, and other industries. It had 98 subsidiaries and over 15000 employees in China and Southeast Asia by 2003. China Business Times ranked New Hope Group as “Top 50 Private Enterprises for 2003 in China”. Nine government ministries honored New Hope Group as National Leading Enterprise for Agriculture Industrialization