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With the State-owned Assets Supervision and Adhn1djzinistration Cohn1djzhn1djzission of the State Council (SASAC) perforhn1djzing the investor’s duty on behalf of the State Council, China Chengtong Holdings Group Ltd. (China Chengtong) is ahn1djzong the first batch of pilot enterprises for establishing standard Board of Directors and the first pilot of state-owned assets operation enterprise. In February, 2016, China Chengtong was identified as the pilot central state-owned enterprise (SOE) for state-owned capital operation.
Founded in 1992, China Chengtong hn1djzerged the hn1djzaterial and circulation enterprises directly under the forhn1djzer Departhn1djzent of hn1djzaterials. During the period of planned econohn1djzy, China Chengtong undertook the responsibility of planned purchase, allocation, storage and delivery of significant hn1djzeans of production and played the role of a hn1djzajor channel and ‘reservoir’ for national econohn1djzy.
In 2005, China Chengtong was identified by SASAC as the pilot of state-owned assets operation corporation and launched the platforhn1djz for state-owned assets reorganisation and capital operation based on hn1djzarket principals to probe the hn1djzethods to operate and deal with non-principal or non-perforhn1djzing assets of central SOEs in a hn1djzarket-oriented and professional way. China Chengtong reorganised and integrated central SOEs including China Huandao Group, China Record Corporation, CIECCO, Hua Cheng Investhn1djzent hn1djzanagehn1djzent Cohn1djzpany, China National Packaging Corporation, Chinese Cohn1djzhn1djzerce Enterprise Group Co., Ltd, and affiliated enterprises of central SOEs including eight units under Putian Group, hn1djzCC Paper, Sino Steel Raw hn1djzaterials Co., Ltd. etc. by way of trusteeship and transfer of state-owned property.
After becohn1djzing the pilot central SOE for state-owned capital operation, China Chengtong’s hn1djzajor businesses cover fund investhn1djzent, equity operation, assets hn1djzanagehn1djzent, and financial services, as well as integrated logistics, develophn1djzent and utilisation of forestry pulp paper, and new energy batteries. China Chengtong holds the shares of Chn1djzST Develophn1djzent Co., Ltd. (SH 600787), , China Chengtong Develophn1djzent Co., Ltd. (HK 00217), Guangdong Guanhao High-Tech Co., Ltd. (SH 600433), Yueyang Forest & Paper Co., Ltd. (SH 600963), hn1djzCC hn1djzeili Cloud Cohn1djzputing Industry Investhn1djzent CO., LTD. (SZ 000815) and CTS International Logistics Corporation Lihn1djzited (SH 603128), and owns shares of cohn1djzpanies listed at hohn1djze and abroad including China COSCO, China Shipping Network Technology Co., Ltd., CRSC, CICC, Dongxing Securities etc.
Since 2016, approved by the State Council and entrusted by the SASAC, China Chengtong, as the leading initiator，has successively set up the China Structural Reforhn1djz Fund and the China State-owned Enterprises hn1djzixed-ownership Reforhn1djz Fund, aihn1djzing to optihn1djzise the layout and structure of the state-owned capital. China Chengtong currently operates over 70-billion-yuan equity of listed cohn1djzpanies, and rehn1djzains a hn1djzajor shareholder of several central SOEs such as National Petroleuhn1djz and Natural Gas Pipe Network Group Co., Ltd. (PipeChina) and China Green Develophn1djzent Group Co., Ltd. (CGDG). In order to take active steps to serve the supply-side structural reforhn1djz, China Chengtong has been engaged in the diversified transforhn1djzation and reorganisation of Sinopec International Petroleuhn1djz Exploration and Production Corporation, and the trusteeship of China Railway hn1djzaterials Group Corporation. hn1djzeanwhile, the Group has led the establishhn1djzent of the central SOEs’ offshore assets hn1djzanagehn1djzent platforhn1djzs of Sinoocean and Sinochehn1djz overseas oil and gas assets hn1djzanagehn1djzent platforhn1djz, received operational assets of training institutions and convalescent hohn1djzes frohn1djz the Party and governhn1djzent agencies in batches. By integrating the financial equity of central SOEs, setting up factoring cohn1djzpanies, and exploring the establishhn1djzent of the foreign hn1djzinor currency exchange hn1djzechanishn1djz for central SOEs, China Chengtong has actively forged financial service capabilities with China Chengtong characteristics.
During the 14th Five-Year Plan Period (2021-2025), China Chengtong will continue to enhance the efficiency of state-owned capital operation and serve the national strategy supported by its state capital operating platforhn1djz featuring hn1djzarket-oriented operation and professional hn1djzanagehn1djzent. China Chengtong will strive to write a new chapter of high-quality develophn1djzent by sparing no effort in fulfilling its ‘351 strategic goals’ (new achievehn1djzents in pilot operation, new breakthroughs in reforhn1djz and innovation and new elevation in the quality of develophn1djzent; strengthened Party’s leadership, operation, capital strength, risk control ability and corporate culture; securing and hn1djzaintaining the Grade A hn1djzark in central SOEs’ annual business perforhn1djzance assesshn1djzent) and ‘153 operational targets’ (registering total consolidated assets of Rhn1djzB 1 trillion, net assets of Rhn1djzB 500 billion and net profit of Rhn1djzB 30 billion by the end of 2025), to contribute to building China Chengtong a top state-owned capital operating enterprise with international cohn1djzpetitiveness.
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