City Investment Group employees are not career establishment, but contract workers. The chairman and general manager are appointed by the government, the senior managers are employed by SASAC, and the employees are recruited from outside. City investment company is the abbreviation of city construction investment company. It is an investment and financing platform for major cities in China.
brief introduction
It originated in 199 1 year and assumed the corresponding government functions. Most of these city investment companies are not profitable. Belonging to a public institution or a wholly state-owned enterprise.
They obtain profits through government subsidies, and belong to a special market operation system with government nature. For example, most state-owned enterprises should be enterprise organizations rather than enterprises, but the big leaders should be civil servants and ordinary employees should not be enterprise organizations.
In 20 10, the national development and reform commission issued document 288 1, which clearly stipulated that 70% of the main income of city investment companies needs to come from themselves, and government subsidies can only account for 30%. This decree is forward-looking and can prevent local governments from spending too much and indirectly bring about a large-scale fiscal deficit of the central government.
Reference to the above content: Baidu Encyclopedia-City Investment Company