State-owned Assets Supervision and Administration Commission: 5 companies officially converted into state-owned capital investment companies

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 Titanium Media App reported on June 20 that the State-owned Assets Supervision and Administration Commission recently issued the "Notice on Matters Concerning the Reform of State-owned Capital Investment Companies" (State-owned Capital Reform [2022] No. 245), which adjusted and optimized the pilot enterprises of state-owned capital investment companies. The "Notice" clarifies that five enterprises, including China Baowu, SDIC, China Merchants Group, China Resources Group and China National Building Materials, have officially been converted into state-owned capital investment companies; Twelve enterprises including Aluminum Group, China COSCO Shipping, COFCO, China Minmetals, General Technology Group, China Communications Group, Poly Group and China General Nuclear Power continued to deepen the pilot program. The "Notice" requires an accurate grasp of the functional positioning of state-owned capital investment companies, continuous deepening of reform achievements, effective functioning of functions, and accelerated formation of a development model with distinctive features. In the next step, the SASAC will guide and promote the steady implementation of comprehensive reforms by state-owned capital investment companies, accelerate the construction of world-class enterprises, and play a greater role in enhancing the competitiveness, innovation, control, influence and anti-risk capabilities of the state-owned economy.

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