Zhongguo Chengtong International Trade Co. Ltd. Opened up Officially
To perfect the industry and value chain of the Group’s capital goods trade and promote the sustainability and internationalization of the trade business, the Group started to launch the international trade platform based on study and judge of the market as well as strategic demands since April, 2013.
The Group selected China Package Corporation’s affiliated China Bei Ying Global Energy Investment Co. Ltd.(abbr. Bei Ying Company later) to be re-organized. After five months’ cooperation and efforts contributed by China Package Corporation and the company preparatory team, the re-structuring of stock rights of the Bei Ying Company has been completed and the new name of the company “China Chengtong International Trade Co. Ltd.”(abbr. Chengtong Guomao) has been registered in State Administration for Industry and Commerce. Chengtong Guomao is a secondary company with its stock rights controlled by China Chengtong and held by middle-senior management team. This restructuration complies to the latest spirits of fully intensifying reform stated in the 3rdplenary session of the Party’s 18thConference and is aimed to absorb talented people and grasp market opportunities through system innovation. It is on the way of probing active transformation of the Group’s trade businesses.
Chengtong Guomao held an opening ceremony and staff conference in Xihu district, Hangzhou, where its headquarter is located, on Nov. 18. The Company’s independent director Meng Weilin, general manger Cao Fugen, deputy general manager Cao Weiliang, Liu Wendong were present. Relevant government agencies and cooperative banks expressed their congratulations.
The company leads introduced the background, cooperate governance structure, corporate culture and development strategy on the conference and stressed six aspects to realize effective management and sustainable development, including supply chain service, business modal innovation, overseas business expansion, risk management and control, incentive and constraint policy, as well as personnel training. The company’s middle-level leads and staff representatives made speeches on the conference, expressing their confidence in their new efforts.
On Nov. 23-24, Chengtong Guomao held its first meeting of board of directors and supervisors in Hangzhou. All the directors and supervisors were present. The board reviewed and approved of the corporate rules of procedure, strategic planning, budget indexes, senior executive employment, remuneration assessment, organization structuring, regulatory framework, and external financing. This conference symbolized the starting point of the corporate governance structure into operation, which is of high significance to the development of the company in the future. Chengtong Guomao expressed the wish to reach all targets and contribute to the Group’s general strategy with its own efforts.