The proper noun
招商局 almost always refers to China Merchants Group (
招商局集团) — founded 1872 in Shanghai by Li Hongzhang (
李鸿章) as
轮船招商局, China's first modern shipping company and a Self-Strengthening Movement (
洋务运动) showcase. Today a Fortune-Global-500 SOE holding shipping, ports, China Merchants Bank (
招商银行), and more. As a common noun,
招商局 also means a local "investment promotion bureau" — the government office that courts businesses to set up in a district.
