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Opening Ceremony of Chengtong Financing Co.Ltd. Grandly Held in Beijing

集团总部     2012-06-29         

On June 28, the opening ceremony of Chengtong Financing Co. Ltd. was solemnly held in Guoyi Hotel. Flowers and lanterns decorating the hotel produced a festival-like atmosphere.

With three years planning and preparation, Chengtong Financing Co. Ltd. came into existence in June. This marked that China Chengtong owned its own financing platform, which constitutes a milestone on the developing history of the Group.

On the opening ceremony, the Group’s chairman and CPC secretary Ma Zhengwu, director of SASAC financing supervision and evaluation bureau Shen Ying, vice chairman of China Financing Company Association Wang Yanling, and standing deputy warden of Fengtai district Gao Peng addressed the ceremony respectively. Director of CBRC non-banking admittance office Shao Min announced the approval document for the opening of financing business and director of CBRC Beijing bureau Li Yongdong announced the financial admittance certificate for financing companies.

The Group’s vice CPC secretary, president Hong Shuikun, vice CPC secretary, discipline inspection commission secretary Li Yaoqiang, chairman of the board Zhang Qiusheng, vice president Qi Kaiming and Cheng Wu, inspector Wang Xiangxin, Zhou Jianhua, deputy accountant general Qin Ju, vice secretary of discipline inspection commission Zhang Baowen, and assistant to the president Zhou Shaobo etc. were present on the ceremony. Accountant general and chairman of the financing company Xu Zhen presided over the opening ceremony.

Chairman Ma Zhengwu extended warmest welcome to all cadres attending the opening ceremony and expressed sincere gratitude towards state ministries, local government, financial institutes and leaders and friends of all fields for their continuing support to the Group. He said that Chengtong had been constantly adjusting to the inner and outer environments, responding to the demand of national economy and market, and going through probing developments since its foundation 20 years ago.。In the recent years, as one of the first patch of SASAC board and assets management duel-pilot enterprises, China Chengtong is dedicated to its core business, and by sticking to scientific development, it has forged a strategic holding Group, combining assets management and industry development, which marks its step onto a new period. Chengtong Financing Co. Ltd. is both the achievement of the Group and new start for it. As the inner financing platform for the Group, the company will play a multiple role in centralized capital management, capital settlement, and financing and consulting. It will also enhance the Group’s managing standards, optimize capital structure, lower financing cost and assist the Group to realize new strategic goals with its financing support. Ma said the Group will fully support healthy development of the company, and will take actions to prevent it from potential risks according to requirements of relevant inspecting department and will improve capital structure so as to support the Group’s scientific development.

Director Shen Ying first represented SASAC financing supervision bureau to congratulate the Group on the foundation of the company and expressed sincere gratitude towards ChinaBankingRegulatoryCommission(CBRC), Beijing CBRC bureau, and China Financing Company Association in establishing and developing the company. She said China Chengtong realized leap-forward development in recent years, overcame great difficulty as SASAC’s operating platform, and had many beneficial probes and achievements, which accumulated operating experience for central enterprises and was highly approved by SASAC. As a new start for China Chengtong, the financing company will gather resources, provide capital support and may push forward the development of the Group. Since 2006, SASAC has been seeking to establish international competitive group companies and the centralized capital management system will serve as an important platform  for collectivized development. Shen gave some advice. First, Chengtong Financing Company should stick to steady and standardized operation, abide strictly by industry management regulations, actively interact with the Group’s business to develop a feasible operation mode. It is significant to master financial tools and understand financial policies to attribute to the Group’s development. Secondly, China Chengtong should also play the controlling role of headquarter to support the newly founded company on the premise that the financing company abides by all business regulations and runs independently. Thirdly, all companies of the Group should fully understand the role of the financing company in centralized capital management and support the company’s work.

Wang Yanling said as invigorating non-bank financial institute, the financing company is a special financing arrangement of Chinese characteristics and a system of innovation combining financial service and the real economy. With 25 years’ development, the company fixed its main business as centralized capital management and is dedicated to serving development of the companies of the Group. She hoped that Chengtong Financing Company would contribute to the development of the Group with its own financial support by catching up all opportunities, taking its own advantages and sticking to its main business of centralized capital management. The company should also implement relevant regulations and continue the policy of steady development to serve the Group.

Gao Peng introduced the function, advantages and developing plans of Fengtai district and said local government would fully support the companies registered in Fengtai district, which would accelerate the local economic growth.

In the joyful music, Ma Zhengwu, Shen Ying, Shao Min, Li Yongdong and Wang Yanling stepped on the stage and unveiled the plaque for Chengtong Financing Co. Ltd. All plauded the significant moment. 

Persons in charge of the headquarter, main leaders of secondary companies, accountant general, persons in charge of financing, guests from financial institutes, tax bureaus, and other central enterprises amounting to 120 attended the opening ceremony.

 

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