Central Huijin Investment

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) is a Chinese 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. Central Huijin is an organization by which the Chinese government can act as a shareholder for the "big four" state owned banks, thereby improving corporate governance and initiating reforms of the banking industry.^[1]

History

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

Governance

Board of Directors

• Ding Xuedong (Chairman & CEO)
• Li Jiange (Vice Chairman)
• Bai Tao (Executive Director and President)

Subsidiaries

As of 31 December 2015

• Central Huijin Asset Management (100%)
• China Everbright Group^[3]
  • Everbright Securities^[4]
  • China Everbright Limited
  • China Everbright International
  • China Everbright Bank^[5]

Investments

Currently, Central Huijin holds shares in several financial institutions: China Development Bank, Industrial and Commercial Bank of China, Bank of China, China Construction Bank, China Everbright Bank, China Reinsurance (Group) Corporation, China Jianyin Investment Limited, China Galaxy Securities Co., Shenwan Hongyuan Group, New China Life Insurance and Guotai Junan Securities Co.

It owns majority stakes in all 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 31 December 2015

• China Pacific Insurance Group (1.22%)^[6]
• Ping An Insurance (2.65%)^[7]
• CSC Financial (40%)

References