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China Reform Holdings, which is wholly owned by State-owned Assets Supervision and Administration Commission (SASAC), was founded in December 2010 with 4.5 billion yuan ($681 million) in registered capital. It was defined as a market-based platform to operate and manage the State-owned assets in accordance with the SASAC's upgraded allocations for State-owned enterprises (SOEs).
Xie said China Reform Holdings will invest in non-renewable resources and strategic emerging industries. However, the competitive industries will not be the company's investment target as central SOEs may consider withdrawing from those industries in the future.
While choosing the investment targets, factors such as the enterprise's scale, rating or profits will not be considered, Xie said. She also said the capital of the company may be increased, according to the report.
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