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In June, 2005, China Chengtong was appointed by the State-owned Assets Supervision and Administration Commission of the State Council to be a state-owned assets management pilot cooperation. Since then, we have successively taken over central state-owned enterprises like Putian Group’s several affiliated enterprises, Huandao Group, China Record Corporation, China Enterprise International Investment Co., Ltd., China Packaging Corporation, China Commercial (Group) Co., Ltd. etc., and Hua Cheng Investment Management Company by way of trusteeship. We have also actively involved in IPO programs with China National Medicines Corporation Ltd., China CNR Corporation Ltd., and Agricultural Bank of China. We have made good use of opportunities, expanded market-oriented assets management, forged through a series of merging and reorganization the forestry-pulp-paper production industry as its main business. We have also actively involved in reform and reorganization of local state owned enterprises, and expands overseas business through capital management. Over the years, we have made great contributions to accelerate state-owned economic distribution and structural strategic adjustment.
With the principle of benefiting national economic distribution and structural adjustment, benefiting improvement of state-owned assets management, benefiting efficient distribution of resources and mutual complementation of enterprises’ advantages, benefiting enhancement of enterprises’ core competitiveness, benefiting maintaining and appreciation of state-owned assets, and benefiting economization of the cost in reform, we establish a platform for state-owned assets reorganization and capital management, probe a market-oriented and professional operating model for entry, integrity, operation and realization of assets, and dedicate ourselves to an investing center for incubating state-owned main industries, a transforming center for subsidiary industries’ assets, a processing center for inefficient assets, a buffering center for quitting enterprises, as well as a managing center for special enterprises, which plays a unique role in state-owned economic distribution and central state-owned enterprises’ reform and reorganization.
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