China Chengtong Holding Group ^{For Profit}

With the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) performing the investor’s duty on behalf of the State Council, China Chengtong Holdings Group Ltd. (China Chengtong) is among the first batch of pilot enterprises for establishing standard board-of-directors and the first pilot of state-owned assets operation enterprise. In February, 2016, China Chengtong was identified as central state-owned enterprise pilot for state-owned capital operation. Founded in 1992, China Chengtong merged the material and circulation enterprises directly under the former Department of Materials. During the period of planned economy, the corporation undertook the responsibility of planned purchase, allocation, storage and delivery of significant means of production and played the role of a major channel and “reservoir” for national economy.