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Zhu Bixin attended CSRF Phase I summary and Phase II fund-raising commendation meeting

Department of Publicity     2021-08-31         

On August 27, Zhu Bixin, China Chengtong’s Secretary of the CPC Committee and Chairman, attended and addressed China Structural Reform Fund (CSRF) Phase I summary and Phase II fund-raising commendation meeting. China Chengtong’s Deputy Secretary of the CPC Committee Shan Zhongli, Vice President Tong Laiming, General Accountant Chen Yong, and General Counsel Tang Guoliang attended the meeting.

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Wei Ran, CCT Fund general manager, reported on CSRF’s Phase I operation and Phase II fund-raising status, which summarised CSRF’s achievements and experience accumulated since its establishment, thoroughly analysed existing problems, and put forward working proposals for the next five years. Miao Qinghua, CCT Fund’s Secretary of the CPC Committee, announced commendation decision on awarding outstanding employees in CSRF Phase II’s fund-raising work.

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Zhu Bixin fully confirmed CSRF’s operation in the past five years and its Phase II fund-raising hard work. Zhu stated that CSRF has built a strong and professional investment team by continuous improvement and established a relatively complete and effective management system through rich investment practice. CSRF has completed the task of large-scale investment and achieved good investment performance while undertaking the task of supporting SOEs’ structural reform, transformation and upgrading, and gradually established a well-received investment brand with good market reputation, in addition, it has made remarkable achievements thanks to constantly strengthened Party building work.

Zhu put forward eight pieces of requirement to CSRF for its next-stage development. First, CSRF should further improve the political awareness and keep in mind the original aspiration of the Fund by giving full play to its function and role. Second, CSRF should do a good job in top-level design and strengthen strategic and forward-looking planning and layout. Third, CSRF should improve the investment strategy and further clarify the investment direction of the Fund supported by in-depth research. Fourth, CSRF should well balance investment and research by strengthening industry knowledge and discussion. Fifth, CSRF should improve post-investment management ability to realise value re-creation in post investment management and in withdrawing stage. Sixth, CSRF should further optimise the investment decision-making process, and improve the team personnel structure by attracting professionals with deep industrial background. Seventh, CSRF should aim high and benchmark model institutions by further emancipating the mind and formulating a better incentive and restraint mechanism. Eighth, CSRF should fully implement risk control requirement and put ‘zero risk’ into every aspect of its work. Zhu also asked CSRF to conduct a through review of Phase I work to produce valuable results that can be drawn and implemented in the Fund’s Phase II work.

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Shan Zhongli put forward requirements to CSRF for further enhancing the political awareness, continuously strengthening the Party’s leadership, further innovating the working mode of Party building and solidly practicing the Fund’s mission. Tong Laiming set out work requirements in four aspects, namely political study, self-improvements, main business, and research initiatives. Chen Yong set forth specific requirements in strengthening financial management, analysing profit-reduction factors and formulating practical profit-increasing measures.

Head of China Chengtong’s General Office, and all personnel from CCT Fund participated in the meeting.

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