In the passed year 2009, the most significant environmental changes in this century took place, and the full impact of the international financial crisis took shape. To deal with this situation, China Merchants Group sized up the situation, made effective responses, and raised the guideline of “to persist in the hard time, to watch the situation, and to reinforce the management”. The company successfully passed the most difficult time after taking a series of measures including controlling the investment, increasing the liquidity, reducing the cost, enlarging the market, and improving the services. We had an annual profit of 17.357 billion yuan in 2009, achieving a year-on-year increase of 22.58 per cent, ranking number seven among all the central state-owned enterprises. The year 2010 is unsure for the economy of China and the world. We are going to be rational, act according to circumstances, strengthen ourselves and develop our company. We have made profits with the growing economy, and we can do better business through raising our labor productivity as well. We are going to continuously optimize the factors of production, the allocation of resources, and the management system to enhance the competitiveness of the enterprise. “Be responsible” is in China Merchants’ spirit when it fights against the global financial crisis. In this year with various challenges and difficulties, we will go on advocate this enterprise spirit, and put it into practice, making us proud of ourselves in the future when we’re looking back at what we are achieving now.