Sichuan Development (Holding) Co., Ltd.
Sichuan Development (Holdings) Co., Ltd. (hereinafter referred to as "Sichuan Development") was established in June 2009 with a temporary registered capital of 80 billion yuan and total assets exceeding130 billion yuan. Known as the "aircraft carrier" of the provincial comprehensive industrial investment and financing platform in Sichuan Province, it is now directly supervised by the State-owned Assets Supervision and Administration Commission of the Sichuan Provincial People's Government. As a pure investment and financing platform, the company holds shares in 22 large state-owned enterprises. The main task of "Sichuan Development" company is to use modern management concepts to carry out equity investment and asset management, guide all kinds of funds to invest in areas of strategic significance to Sichuan's economic and social development, and promote the construction of major projects.
"Belt and Road" China enterprises ranked 67th among 100 top enterprises.
As shareholders and investors of member enterprises, they exercise three management rights on behalf of the Sichuan Provincial Party Committee and the provincial government: First, the right to return on assets. As a shareholder of 22 enterprises, not less than 20% of the assets transferred to enterprises belong to Chuanfa; Secondly, the right of financial supervision. Chuanfa can appoint the chief financial officer to 22 enterprises to supervise and manage their finances. Finally, the right to suggest asset disposal. Chuanfa has the right to make suggestions on the reform, reorganization, division and merger of 22 enterprises, and can make suggestions and report them to SASAC for approval according to the prescribed procedures.
Member enterprises
As shareholders and investors of member enterprises, they exercise three management rights on behalf of the Sichuan Provincial Party Committee and the provincial government: First, the right to return on assets. As a shareholder of 22 enterprises, not less than 20% of the assets transferred to enterprises belong to Chuanfa; Secondly, the right of financial supervision. Chuanfa can appoint the chief financial officer to 22 enterprises to supervise and manage their finances. Finally, the right to suggest asset disposal. Chuanfa has the right to make suggestions on the reform, reorganization, division and merger of 22 enterprises, and can make suggestions and report them to SASAC for approval according to the prescribed procedures.