The company, formerly known as Shanghai Dazhong Taxi Co., was established on 24 Dec. 1988 with 65-million-yuan bank loan. In July of 1992, it was reformed into a sino-foreign joint stock company and it's A & B shares were listed on Shanghai Stock Exchange on 7 Aug. and 22 July, 1992 respectively. In Aug. 1999, the company changed its name into Dazhong Transportation (Group) Co., Ltd. With 10 years' consistent efforts, the company gained rapid development. Since the reform, net asset return rate averaged at more than 10%. Forming the strategy of the company's operation as follows: focusing on the sectors of transportation, logistics, public transportation and tourism, while further involving in the hi-tech industry, financial and insurance business, properties, and commerce & trade. Upon the tenth anniversary of the founding of the company, Premier of the State Council Zhu Rongji , wrote to encourage the company: "It is hard to create a business. It is a long way to scale new heights." At the beginning of the 21st century, core business of the company was shifted from the traditional transportation industry to modern passenger traffic, modern logistics and e-commerce business.