SASAC: 5 companies officially converted into public capital investment companies

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June 20, 2022 7:29 p.m. (GMT+8)
EqualOcean

The Public Assets Supervision and Administration Commission (SASAC) recently issued the opinion on issues related to the reform of state-owned capital investment companies (gzgzgz [2022] No. 245), which adjusted and optimized the pilot enterprises of state-owned capital investment companies. The notice clearly states that five companies, including China Baowu, China Investment, China Merchants Group, China Resources Group and China Building Materials, have officially become state-owned investment companies; 12 enterprises, including Aircraft Industry Group, State Electricity Investment, National Power Group, State Machinery Group, Chinalco, COSCO Shipping, COFCO, China Minmetals , General Technology Group, CCCC, Poly Group and CGNPC continued to deepen the pilot project. The circular asks us to accurately grasp the functional orientation of public capital investment enterprises, continuously deepen the results of the reform, play its role effectively, and accelerate the formation of a development model for distinctive features. Then, SASAC will guide and promote the steady implementation of comprehensive reform by public capital investment enterprises, accelerate the construction of world-class enterprises, and play a greater role in improving competitiveness, innovation, control, influence and risk resilience of the state-owned economy.

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