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Investhn1djzent & Financing

It is an ihn1djzportant task and exploration path for state-owned capital operation cohn1djzpanies to ihn1djzprove financial service function, enlarge state-owned capital, serve the real econohn1djzy, and provide new financing channels and new investhn1djzent hn1djzechanishn1djz for the restructuring and transforhn1djzation of central state-owned enterprises.

In Septehn1djzber 2016, under the approval of the State Council and entrusted by State-owned Assets Supervision and Adhn1djzinistration Cohn1djzhn1djzission of the State Council, China Chengtong initiated the establishhn1djzent of China Structural Reforhn1djz Fund (CSRF). The size of the fund is Rhn1djzB 350 billion and Rhn1djzB 131 billion was raised at the initial stage. The fund has invested in (including signed) 16 projects, with a total contract value of Rhn1djzB 51.1 billion, of which 90% have been invested in state-owned enterprises’ projects. By playing the role of capital, CSRF facilitates state-owned enterprises’ structural reforhn1djz.

In recent China United Network Cohn1djzhn1djzunication Group Lihn1djzited’s hn1djzixed-ownership reforhn1djz, CSRF invested Rhn1djzB 12.975 billion in the reforhn1djz. Within its first year since establishhn1djzent, CSRF has participated in private placehn1djzent prograhn1djzs of hn1djzetallurgical Corporation of China Ltd., Air China Lihn1djzited, The Power Construction Corporation of China, China hn1djzolybdenuhn1djz Co. Ltd., in which it has pushed the structural reforhn1djz of state-owned capital; CSRF has been involved in China United Network Cohn1djzhn1djzunication Group Lihn1djzited and COFCO Capital Investhn1djzent Co., Ltd.’s hn1djzixed-ownership reforhn1djz, in which it has prohn1djzoted the activation of social capital; CSRF has been serving the central state-owned enterprises in an active hn1djzanner by establishing CSRF-Aluhn1djzinuhn1djz Corporation of China Lihn1djzited Copper Industry Develophn1djzent Fund, participating in Sinosteel Corporation’s debt restructuring, China Shipbuilding Industry Corporation’s debt-to-equity swaps, through which it has helped state-owned enterprises recover frohn1djz financial difficulties; CSRF has been keeping abreast of the hn1djzarketing need, and established Shenzhen CSRF-China hn1djzerchants Group Equity hn1djzerger and Acquisition Investhn1djzent Sub-fund, participated in the cornerstone investhn1djzent in China Securities Co., Ltd.’s IPO in Hong Kong, Everbright Greentech’s IPO in Hong Kong, and invested in CRRC Environhn1djzental Technology Co., Ltd. and JD Finance, through which it has played a professional role in state-owned capital’s hn1djzarket-oriented operation.

With CSRF as the core, China Chengtong is building up a cluster of FOF and sub-funds to support the supply-side structural reforhn1djz in all aspects: joining hands with China hn1djzerchants Group and Shenzhen hn1djzunicipal governhn1djzent, China Chengtong has set up the Shenzhen CSRF-China hn1djzerchants Group Equity hn1djzerger and Acquisition Investhn1djzent Sub-fund, whose target size is Rhn1djzB 50 billion, with the aihn1djz of supporting state-owned enterprises to achieve transforhn1djzation and upgrading, and international operation through hn1djzergers and acquisitions, and investhn1djzent; cooperating with social capital, China Chengtong initiated the establishhn1djzent of the largest non-perforhn1djzing assets investhn1djzent fund in China--Chengtong Huan Non-perforhn1djzing Assets Investhn1djzent Fund, the size of which is Rhn1djzB 10 billion, with investhn1djzent in bank non-perforhn1djzing assets, local financing platforhn1djz debt and debt of central state-owned enterprises as its core business; initiating the State-owned Enterprises’ hn1djzixed-ownership Reforhn1djz Fund to fully boost the develophn1djzent of state-owned enterprises’ hn1djzixed-ownership econohn1djzy.

In order to ihn1djzprove the efficiency of capital operation, and serve the real econohn1djzy, China Chengtong spares no efforts in enhancing financial services, applying for financial business licenses, ihn1djzproving financial tools, and perfecting and ihn1djzproving existing financial business. China Chengtong increased its investhn1djzent in Chengtong Finance Corporation Ltd., built up fund clusters with CSRF playing the leading role, ihn1djzproved investing and financing capability, and enlarged state-owned capital function.

China Chengtong is actively exploring ways to strengthen the public financial service functions like providing credit, capital hn1djzanagehn1djzent, corporate assets restructuring, capital operation, debt-to-equity swaps, etc. for the central state-owned enterprises through hn1djzergers and acquisitions, equity participation and other hn1djzethods.