UBS SDIC is a Sino-foreign joint venture, and UBS SDIC Fund Management Co., Ltd. is the first joint venture fund management company with the highest proportion of foreign ownership in China. The shareholders are SDIC Trust Co., Ltd. and UBS Group AG, holding 5 1% and 49% of the shares respectively.
SDIC UBS Fund Management Co., Ltd. is the first joint venture fund management company with the highest proportion of foreign ownership (49%) in China. Its predecessor was Zhongrong Fund Management Co., Ltd., which was established in June 2002. The shareholders of the company are the world's leading Swiss banking group and SDIC Trust Co., Ltd. (a wholly-owned subsidiary of the National Development and Investment Corporation). The company's goal is to establish a first-class asset management company based on brand awareness, company size, investment performance, product innovation and reputation.
The strength of the two major shareholders of SDIC UBS ranks among the best in the industry: UBS is a fortune 500 company, the world's largest wealth management company and asset management company, and the world's leading investment bank and securities company. National Development and Investment Corporation is the largest state-owned investment holding company directly under the central government (deputy ministerial level) and one of the 53 large state-owned enterprises directly under SASAC. The strong alliance between Chinese and foreign shareholders has laid a solid foundation for the development of UBS SDIC.
What is a state-owned enterprise?
State-owned enterprises are state-owned enterprises. In different countries, different systems and different historical periods, the international definition of state-owned enterprises is very different. State-owned enterprises in China are defined according to control rights and business objectives, that is, the government can exercise effective direct or indirect control over them (ownership is the first thing to exercise control rights legally), and enterprises with commercial or non-commercial objectives can be defined as state-owned enterprises, including state-controlled joint-stock enterprises. It is commonly referred to as state-owned enterprises, that is, state-owned enterprises.
State-owned enterprises are state-owned enterprises, and institutions and enterprises are completely different. Enterprises are generally self-financing production units, and institutions are generally public welfare institutions established by the state.