Five companies including China Baowu officially converted to state -owned capital investment companies

In order to implement the Party Central Committee and the State Council on deepening the reform and deployment of the reform of state -owned capital investment companies and further improving the accuracy and effectiveness of reform, the SASAC recently issued the "Notice on the Reform of State -owned Capital Investment Corporation Reform" (State -owned Assets Reform [2022] 245 Number, hereinafter referred to as the "Notice"), adjusted and optimized the pilot enterprise of state -owned capital investment companies. The "Notice" clearly states that 5 companies including China Baowu, SDIC, China Merchants Group, China Resources Group and China Building Materials have officially converted to state -owned capital investment companies; Twelve companies including Aluminum Group, China Ocean Shipping, COFCO Group, China Minmetals, General Technology Group, CCCC Group, Poly Group, and CITIC Nuclear continued to deepen the pilot. The "Notice" requires accurately grasping the functional positioning of state -owned capital investment companies, continuously deepening the results of reform, effectively exerting functional functions, and accelerating the formation of distinctive development models.

In the next step, the State -owned Assets Supervision Commission will guide the steadily implementation of comprehensive reforms of state -owned capital investment companies, accelerate the construction of world -class enterprises, and play a greater role in enhancing the competitiveness of state -owned economic competitiveness, innovation, control, influence and anti -risk capabilities.

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