[Edit this paragraph] Company Management
Central Huijin Company was established in June 5438+February 65438+June 2003. Approved by the State Council, it is a wholly state-owned investment company that exercises the rights and obligations of investors on behalf of the state to key financial enterprises such as Bank of China and China Construction Bank. Huijin, which was originally operated under the guidance of the leading group for the reform of wholly state-owned commercial banks in the State Council, has been merged into China Investment Corporation, which is the window of China Financial Stability Board. Administrative measures related to financial stability are formulated and implemented by the Financial Stability Board, while market-oriented measures are operated by Central Huijin Company. Therefore, Huijin Company is a "tool" company in the State Council to maintain financial stability, prevent and resolve financial risks. There is another explanation for Huijin's positioning. At the beginning of the company's establishment, the spokesperson of the State Administration of Foreign Exchange explained its responsibilities: injecting capital into the experimental bank with foreign exchange reserves, not financial allocation, but capital investment. As the investor, central huijin Investment Company will urge banks to implement various reform measures, improve the corporate governance structure, and strive to make equity assets obtain competitive investment returns and dividend income.
The Board of Directors and the Board of Supervisors are appointed by the Ministry of Finance, the People's Bank of China and the State Administration of Foreign Exchange respectively. When the company was established, the chairman was Guo Shuqing, director of SAFE, the vice chairman was Madelen, deputy director of SAFE (Wang Jianxi, assistant to the chairman of CSRC, took over on June 5438+ 10), and the general manager was Hu Xiaolian, deputy director of SAFE (transferred to assistant to the president of China People's Bank in September 2004, and Xie Ping took over as general manager). Board members include: Li Dongrong, Deputy Director of the State Administration of Foreign Exchange; Director of the Reserve Management Department of the State Administration of Foreign Exchange; Xu, director of the Finance Department of the Ministry of Finance (who has been detained due to economic problems); Sun Xiaoxia, deputy director of the Finance Department of the Ministry of Finance; Wang Weixing, Deputy Director of the Budget Department of the Ministry of Finance; Xie Ping, Director of the Financial Stability Board of the Central Bank (succeeded Hu Xiaolian as general manager in September 2004); And ye ying, director of the central bank's currency, gold and silver bureau. Members of the Board of Supervisors include Geng Hong, Director of the Financial Supervision Department of the Ministry of Finance; Hu Wei is the director of the accounting department of the central bank; And economist Deng Xianhong.
[Edit this paragraph] Company positioning
On behalf of the state, exercise the rights and obligations of investors to large state-owned financial enterprises, maintain financial stability, prevent and resolve financial risks, use foreign exchange reserves efficiently, and be responsible for maintaining and increasing the value of foreign exchange reserves.
[Edit this paragraph] Investment record
* In June, 2003, 5438+February, 2003, it injected $22.5 billion into China Bank;
* In June, 2003, 5438+February, 2003, it injected $20 billion into China Construction Bank;
* In June 2003, 5438+February, we invested $2.5 billion in CCB Investment Company;
* In June 2004, it injected RMB 3 billion into Bank of Communications;
* In April 2005, it injected US$ 654.38+0.5 billion into China Industrial and Commercial Bank;
* In June 2005, it injected 654.38 billion yuan into Galaxy Securities Company;
:: In July 2005, it injected US$ 5 billion into The Export-Import Bank of China;
* In August 2005, it injected 2.5 billion yuan into Shen Yin Wanguo Securities Company and provided loans of 654.38+0.5 billion yuan;
* In August 2005, it injected 654.38 billion yuan into Guotai Junan Securities Company and provided another 654.38 billion yuan in loans;
* In August 2005, it injected RMB 5.5 billion into Galaxy Financial Holding Company;
* In September 2005, it injected RMB 654.38+000 billion into China Everbright Bank;
* From June 5438 to February 2006, it injected 20 billion RMB into China Everbright Bank;
* In June 2008, it invested130 billion yuan in China Agricultural Bank, equivalent to US dollars.
In February 2008, the investment1460.92 million yuan held 48.7% equity of China Development Bank Co., Ltd.
[Edit this paragraph] Related disputes
Although Huijin is called a company, some people think it is still a government agency. Because SAAC is not responsible for managing financial state-owned assets, Huijin Company is considered as "financial SAAC". In addition, the use of national foreign exchange reserves to make up for the losses caused by institutional mechanisms of state-owned enterprises has also been questioned by some scholars and experts. In terms of procedure, Wu Jinglian and others think that Huijin should be authorized by NPC Financial and Economic Committee.