Establishment of the first industrial transformati

2022-06-24
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The first industrial transformation theme fund in China's iron and steel industry was established. According to the voice of China (CNR), the "Great Wall River steel industry development fund" was officially unveiled in Beijing yesterday (July 28). This is the first industrial transformation theme fund in China's iron and steel industry, and has built an important investment and financing platform for deepening the supply side structural reform of China's iron and steel industry and accelerating industrial transformation and upgrading

the fund is jointly established by Hebei Iron and Steel Group and China Great Wall Asset Management Co., Ltd., and subscribed by Hebei Iron and Steel Group and Great Wall Asset at the proportion of 51% and 49%. Hegang group is one of the largest steel material manufacturers and comprehensive service providers in the world. It is also a leading enterprise for Chinese steel enterprises to carry out international cooperation and promote the construction of the "the Belt and Road". As one of the four major state-owned asset management companies directly under the State Council, Great Wall assets has developed into a financial holding group with full financial licenses and branches covering the whole country. The cooperation between the two can be described as a strong alliance. The scale of the master fund of the fund has reached 10billion yuan. By giving full play to the guiding role of state-owned capital, the fund will widely absorb and utilize social resources, enlarge the investment effect, strive to promote the implementation of billion yuan projects, focus on supporting the key transformation and strategic development projects of Hebei Iron and Steel Group, and actively participate in the initial public offering, private placement, mergers and acquisitions, transformation and upgrading of traditional industries in the reform of state-owned enterprises in Hebei Province This is the project of changing the strategic emerging industry investment and cultivation of experimental aircraft

it is reported that the fund will adopt the operation mechanism of "investment guidance of state-owned enterprises, participation of social capital, operation of professional teams and comprehensive consideration of investment decisions by experts", and set up an "investment decision-making committee". The members of the investment decision-making committee are composed of representatives sent by each partner. All investment decisions are voted by the members of the investment decision-making committee in accordance with strict investment decision-making procedures, so as to ensure the healthy growth of the fund within ± 1% of the set value;. According to the specific conditions of the project, it will be established under the master fund at an appropriate time. Since last year, Hebei Iron and steel and Great Wall assets decided to set up an industrial development guidance fund, the project teams of both sides have conducted strict investigation and demonstration on Hebei Xuangong, Henan iron and steel yunshang, Hebei Iron and steel mining, Chengde vanadium titanium and other projects, and have reserved a large number of projects for the fund during the preparation of the fund. Previously, Great Wall Asset invested 500million yuan to participate in the major cross-border asset restructuring project of Hebei Xuangong and South Africa PMC under Hebei Iron and steel group. The cooperation between the two sides has had a successful example

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