CHINA China Resources chosen for state-owned capital investment company pilot program

CHINA

China Resources chosen for state-owned capital investment company pilot program

By Cao Shulin

00:02, December 18, 2018

Conglomerate China Resources (Holdings) Company Limited (CR Group) has been chosen for a pilot program that allows State-owned enterprises to form companies to invest state-owned capital without engaging in specific production and operation activities.

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(File Photo: VCG)

The state-owned capital investment companies will not interfere with the daily production and operation of the companies they hold. The investment company mainly carries out investment and financing and capital operation.

Shen Ying, vice chairman of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), revealed the news at a conference celebrating the 80th anniversary of the establishment of CR Group in Shenzhen on December 17.

Lin Shaochun, a member of the Standing Committee of the Guangdong Provincial Party Committee, expressed gratitude to CR Group for its assistance to Guangdong's economic and social development over the past 40 years of reform and opening up. 

He said that Guangdong has become the location of CR Group’s core assets. This has facilitated the construction of Guangdong's modern industrial system.

Lin also said that in the future, Guangdong is willing to work with CR Group to jointly build the Guangdong-Hong Kong-Macao Greater Bay Area, promote infrastructure interconnection, deepen strategic cooperation, and work together to create a number of major platforms and major projects for industrial transformation and upgrading.

(Compiled by Zhang Jian)

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