China Central Huijin

China Central Huijin
Central Huijin Investment Ltd.
Type State-owned
Industry Investment company
Founded Beijing, China (2003 (2003))
Headquarters Beijing, China
Area served People's Republic of China
Key people Lou Jiwei
(Chairman)
Li Jiange
(Vice Chairman)
Xie Ping
(Executive Director and President)
Employees 15 - 19[citation needed]
Parent China Investment Corporation
Website www.huijin-inv.cn

Central Huijin Investment Ltd. (Chinese: 中央汇金投资有限责任公司; pinyin: ZhōngYāng HuìJīn TóuZī YǒuXiàn ZéRèn Gōng Sī) established on December 26, 2003 is an investment company owned by the government of the People's Republic of China. It is a wholly owned subsidiary of China Investment Corporation with its own Board of Directors and Board of Supervisors. Central Huijin's principal shareholder rights are exercised by the State Council. The purpose of Central Huijin is to create an organizational structure by which the PRC government can operate as a shareholder for the large "big four" state owned banks, therefore to improve corporate governance and initiate reforms of the banking sector.[1]

Contents

History

Central Huijin Investment Ltd. was acquired from the State Administration of Foreign Exchange by the China Investment Corporation for roughly $67 billion.[2]

Governance

Board of Directors

  • Lou Jiwei (Chairman)
  • Li Jiange (Vice Chairman)
  • Xie Ping (Executive Director and President)
  • Wu Xiaoling (Independent Director)
  • Jin Lianshu (Independent Director)

Board of Supervisors

  • Jin Liqun (Chairman)
  • Cui Guangqing (Supervisor)
  • Ge Rongrong (Employee Supervisor)

Senior Management

  • Xie Ping (Executive Director and President)
  • Chen You'an (Executive Vice President)

Investments

Currently, Central Huijin holds shares in the institutions listed below: China Development Bank, Industrial and Commercial Bank of China Limited, Bank of China Limited, China Construction Bank Corporation, China Everbright Bank Co.,Ltd., China Reinsurance (Group) Corporation, China Jianyin Investment Limited, China Galaxy Financial Holding Co.,Ltd., Shenyin & Wanguo Securities Co.,Ltd., Guotai Junan Securities Co.,Ltd..

It owns majority stakes in all of the big four Chinese banks ((Bank of China, Industrial and Commercial Bank of China, China Construction Bank, and Agricultural Bank of China)), but does not own shares in the smaller joint-stock commercial banks which are largely owned by local governments.

As of June 7, 2006, the ownership of 'H' shares in the Bank of China (SEHK:3988) has been:

  • Central Huijin Investment: 69.265% (171,325,404,740 shares)
  • RBS China: 8.467% (20,942,736,236 shares)
  • AFH: 4.765% (11,785,825,118 shares)
  • SSF: 4.576% (11,317,729,129 shares)
  • UBS AG: 1.366% (3,377,860,684 shares)
  • ADB: 0.205% (506,679,102 shares)
  • Other (including private) investors: 11.356% (28,089,421,000 shares)

References

  1. ^ Inside CCB
  2. ^ Jamil Anderlini, China investment arm emerges from shadows, Financial Times, 5 January 2008



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