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    With the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) performing the investor’s duty on behalf of the State Council, China Chengtong Holdings Group Ltd.?(China Chengtong)?is among 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 merged the material and circulation enterprises directly under the former Department of Materials. During the period of planned economy, China Chengtong undertook the responsibility of planned purchase, allocation, storage and delivery of significant means of production and played the role of a major channel and ‘reservoir’ for national economy.

    In 2005, China Chengtong was identified by SASAC as the pilot of state-owned assets operation corporation and launched the platform for state-owned assets reorganisation and capital operation based on market principals to probe the methods to operate and deal with non-principal or non-performing assets of central SOEs in a market-oriented and professional way. China Chengtong reorganised and integrated central SOEs including China Huandao Group, China Record Corporation, CIECCO, Hua Cheng Investment Management Company, China National Packaging Corporation, Chinese Commerce Enterprise Group Co., Ltd, and affiliated enterprises of central SOEs including eight units under Putian Group, MCC Paper, Sino Steel Raw Materials Co., Ltd. etc. by way of trusteeship and transfer of state-owned property.

    After becoming the pilot central?SOE for state-owned capital operation, China Chengtong’s major businesses cover fund investment, equity operation, assets management, and financial services, as well as integrated logistics, development and utilisation of forestry pulp paper, and new energy batteries. China Chengtong holds the shares of CMST?Development Co., Ltd. (SH 600787), , China Chengtong Development Co., Ltd. (HK 00217), Guangdong Guanhao High-Tech Co., Ltd.?(SH 600433), Yueyang Forest & Paper Co., Ltd. (SH 600963), MCC?Meili Cloud Computing Industry Investment CO., LTD.?(SZ?000815) and CTS International Logistics Corporation Limited (SH 603128), and owns shares of companies listed at home 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 Reform Fund and the China State-owned Enterprises Mixed-ownership Reform Fund, aiming to optimise the layout and structure of the state-owned capital. China Chengtong currently operates over 70-billion-yuan equity of listed companies, and remains a major shareholder of several central?SOEs such as National Petroleum and Natural Gas Pipe Network Group Co., Ltd. (PipeChina) and China Green Development Group Co., Ltd. (CGDG). In order to take active steps to serve the supply-side structural reform, China Chengtong has been engaged in the diversified transformation and reorganisation of Sinopec International Petroleum Exploration and Production Corporation, and the trusteeship of China Railway Materials Group Corporation. Meanwhile, the Group has led the establishment of the central SOEs’ offshore assets management platforms of Sinoocean and Sinochem overseas oil and gas assets management platform, received operational assets of training institutions and convalescent homes from the Party and government agencies in batches. By integrating the financial equity of central SOEs, setting up factoring companies, and exploring the establishment of the foreign minor currency exchange mechanism 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 platform featuring market-oriented operation and professional management. China Chengtong will strive to write a new chapter of high-quality development by sparing no effort in fulfilling its ‘351 strategic goals’ (new achievements in pilot operation, new breakthroughs in reform and innovation and new elevation in the quality of development; strengthened Party’s leadership, operation, capital strength, risk control ability and corporate culture; securing and maintaining the Grade A mark in central SOEs’ annual business performance assessment) and ‘153 operational targets’ (registering total consolidated assets of RMB 1 trillion, net assets of RMB 500 billion and net profit of RMB 30 billion by the end of 2025), to contribute to building China Chengtong a top state-owned capital operating enterprise with international competitiveness.

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