in 2013, the beijing-based public company started its diversification, which saw the company entered into the united states and indonesia, as well as entered the financial services industry. it acquired the controlling stake of financial service companies minsheng securities in 2014, china minsheng trust in 2016, as well as 71.36% shares of hong kong based public companies hutchison harbour ring in 2014 (was renamed into china oceanwide holdings limited, ) and quam financial service group () in 2017. however, the acquisition of cash financial services group (), via oceanwide holdings international finance, was failed in 2015. oceanwide real estate group was also renamed to oceanwide holdings, as well as setting up a hong kong based company china oceanwide group limited () for foreign acquisition.