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China Chengtong held the 2018 Work Conference and the Sixth Session of the Second Workers’ Conference in Beijing, and set the target of building China Chengtong a first class state-owned capital operating company.
On October 24th, China Chengtong’s Secretary of Party Committee and Chairman Ma Zhengwu was elected the alternate member of the Central Committee of the 19th National Congress of the Communist Party of China.
On October 9th, the Vice Chairman of the Chinese People’s Political Consultative Conference (CPPCC) and the President of the China-Russia Friendship Association Chen Yuan visited Greenwood International Trade Centre and attended the Chinese-Russian Financial Cooperation Forum was held in Greenwood.
On October 10th, Chengtong Real Estate Investment Co., Ltd. (Chengtong Real Estate Investment) held its shareholder forum in the Group’s headquarters. The establishment of Chengtong Real Estate Investment has provided China Chengtong, the capital operating company, another important platform for asset allocation business.
On October 27th, CTS International Logistics Corporation Limited (CTS International) held its officials’ meeting, board of directors meeting and shareholders meeting, which marks the completion of smooth transfer of CTS International’s controlling stake and registration to China Chengtong, and has laid a solid foundation for the healthy and sustainable development of CTS International.
On September 7th, the Vice Chairman and Member of the State-owned Assets Supervision and Administration Commission of the State Council CPC Committee, Meng Jianmin, visited Greenwood International Trade Centre and unveiled the Greenwood Exhibition Hall.
On September 24th, China Chengtong held the appraisal meeting on the topic The Exploration and Practice of the Party Building Work Under the New Situation of the State-owned Capital Operation Company.
On August 1st, China Chengtong Investment Co., Ltd., a subsidiary of China Chengtong, successfully issued $500 million worth of 5-year Reg S bonds, marking the first appearance of state-owned capital operating companies in the international capital market and attracting widespread attention of the international investors.
On August 28th, the signing ceremony of Beijing Structural Mixed Ownership Reform Investment Fund Sponsorship Agreement was held in Beijing.
On April 25th, the Chairman of the State-owned Assets Supervision and Administration Commission of the State Council, Xiao Yaqing, visited China Chengtong and presided over State-owned Assets Operation Company Pilot Projects Symposium at China Chengtong.
The Secretarial Group of the Leading Group of the Central Party Building Work, the Party Building Bureau of the SASAC visited China Chengtong and guided its Party building work.
On March 29th, the founding meeting of Chengtong Huan Investment Co. Ltd. was held in Beijing.
On February 8th, Secretary of the Party Committee of the State-owned Assets Supervision and Administration Commission of the State Council, Hao Peng, visited China Chengtong and learned about its corporate reform and development, and Party building work.
From January 16 to 17, China Chengtong held its 2017 Work Conference and the 5th Session of the 2nd Workers’ Conference in Beijing, and laid out the annual work target for 2017 as ‘establishing common understanding, gathering strength and speeding up reform in order to build a new mechanism of all-round state-owned capital operation’.
On September 26th, the establishing conference and the inaugurating ceremony of China Structural Reform Fund Corporation Limited was held in Beijing. Approved by the State Council and entrusted by the State-owned Assets Supervision and Administration Commission of the State Council, China Chengtong joined hands with Postal Savings Bank of China Co., Ltd., China Merchants Group Limited, China North Industries Group Corporation, China Petrochemical Corporation, Shenhua Group Corporation Limited, China Mobile Communications Corporation, CRRC, China Communications Construction Group Co., Ltd., and Beijing Financial Street Investment Co., Ltd. to initiate the establishment of China Structural Reform Fund Corporation Limited. The fund has a value of RMB 350 billion, making it the largest private equity fund in China to date. RMB 131 billion was raised during the initial stage.
On April 29th, entrusted by the State-owned Assets Supervision and Administration Commission of the State Council, China Chengtong got engaged in the trusteeship of China Railway Materials Company Limited.
Upon the decision made by SOE Reform Leading Group of the State-owned Assets Supervision and Administration Commission of the State Council, China Chengtong was identified as the pilot unit of the state-owned capital operation.
On June 29th, Premier Li Keqiang and Belgian Prime Minister Charles Michel witnessed the signing of MOU between China Chengtong’s Chairman Ma Zhengwu, China Development Bank’s Chairman Hu Huaibang and Belgian Antwerp Port Authority Chairman Marc Van Peel in Brussel to co-build the Sino-European and Sino-African logistics and trading platform, marking a historical step taken by China Chengtong to carry out the ‘Belt and Road Initiative’.
From April 21-22, Chengtong Holdings Group Ltd.’s 2nd Congress of the Communist Party of China was held in Beijing. A new term of Party committee and discipline inspection committee were elected in the Congress, and it also raised the goals of China Chengtong in the coming five years.
On May 21st, the People’s Daily published the article entitled Implement the Party’s Mass Line and Serve State-owned Capital Reform by China Chengtong’s Chairman Ma Zhengwu.
On March 1st, the management of MCC Paper Group Co., Ltd. was transferred to China Chengtong.
On October 19th, China Chengtong held the 20th Anniversary Commemoration Conference and press conference for its 1st Social Responsibility Report.
On June 19th, during his visit to Russia, Member of the Standing Committee of the Political Bureau of the CPC Central Committee, Secretary of the CPC Central Commission for Discipline Inspection He Guoqiang visited the Greenwood International Trade Center invested by China Chengtong.
On June 28th, Chengtong Finance Co. Ltd. opened up.
On November 21st, the appraisal meeting of the research topic ‘China Chengtong’s Practice, Experience and Thoughts of Pilot Reform’ was held in China National School of Administration.
On September 16th, Member of the Standing Committee of the Political Bureau of the CPC Central Committee, Chairman of the NPC Standing Committee Wu Bangguo visited the Greenwood International Trade Center and unveiled the nameplate on the opening ceremony during his visit to Russia.
China Commerce Group Co. Ltd. merged into China Chengtong.
Approved by the State-owned Assets Supervision and Administration Commission of the State Council, China Chengtong included ‘forestry pulp paper production, development and utilization’ as major business and China Chengtong’s paper business jumped up to top five nationwide.
China Chengtong’s implementation of ‘Going Global’ strategy made great break-through by completing the biggest overseas commercial and trading investment of China to date. A commercial and trading platform for Chinese commodities in Russia, East-Europe and other areas o Europe is to be built.
On June 1st, Xi Jinping, then Member of the Standing Committee of the Political Bureau of the CPC Central Committee and Vice President, made important instructions on China Chengtong’s work, ‘China Chengtong's earnest implementation of the study and practice of the Scientific Outlook on Development activities among businesses experiencing difficulties is very good. We should take these study and practice activities as an opportunity to strengthen our efforts to guide state-owned enterprises, especially those facing difficulties, to adhere to the principle of classification, to push forward reform and reorganization, to provide practical solutions to specif
China Chengtong decided to focus its efforts on three parts, namely, to develop the advantageous enterprises, to foster and incubate new enterprises, and to quit difficult enterprises. It has proposed that by 2015 China Chengtong would develop into an assets management corporation with assets and revenue over RMB 100 billion, playing a unique role in the national economy adjustment by serving central state-owned enterprises’ restructuration.
China Chengtong completed the transformation and mass distribution of former staff in eight Putian units, China Huandao Group Co., and China Record Corporation and 11 military enterprises that it had earlier merged, and assets management harvested considerable fruits at this stage.
China Chengtong realized a RMB 24.55-billion main business revenue and 59.1-million-ton cargo-handling capacity. Trade sales volume arrived at 10.23 million tons, with a total profit of RMB 433 million. ROE was 3.07%, making a historical high. China Chengtong as a whole has achieved a monumental development.
As the first central state-owned enterprise to end the trusteeship, China Huandao Group Co. merged into China Chengtong, making it a landmark case for significant progress achieved in the pilot work of the SASAC’s assets operation companies.
China Chengtong continued pushing forward its pilot work in the board of directors, and became a national assets management pilot with the authenticity of Document 116 granted by Department of National Assets Management of the State-owned Assets Supervision and Administration Commission of the State Council. China Chengtong has actively explored a new way to central state-owned enterprises’ layout and structural adjustment, and expanded the room for its owned development.
A set of new developing goals were stated in China Chengtong’s Party Congress. They were: by 2008, business revenue would reach RMB 20 billion; cargo throughput would grow to 50 million tons, total profit would reach RMB 300 million, and per capita income would rise to RMB 50, 000; China Chengtong would join the list of key national large circulation enterprise recognized by Department of Commerce.
China Chengtong became the first batch of pilot enterprises identified by the State-owned Assets Supervision and Administration Commission of the State Council, which helped China Chengtong perfect its corporate governance structure and laid a solid foundation for its further development.
China Chengtong clarified its goals for logistics development strategy: by 2007, the main business revenue and the total profit would quadruple, and staff’s per capita income double, and ROE would reach 4%. China Chengtong would develop into an excellent enterprise in the industry.
China Chengtong invited A.T. Kearney, the famous global management consulting firm, to finalize the direction of China Chengtong’s modern logistics development strategy.
China Chengtong completed its transformation. With 62 enterprises being stripped off, China Chengtong succeeded in making profit in the same year, and became an enterprise directly governed under Central Work Committee for Large Enterprises.
China Chengtong’s parent body began to transform and established a parent-subsidiary system.
19 enterprises directly under the former Department of Materials formed China Huatong Group (former name of China Chengtong), aiming at becoming a national goods and material group.
Prior to 1992, China Chengtong’s subsidiary member enterprises served as circulation channels and played the role of ‘reservoir of national economy’.
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