Chengtong unveils new reform plans

SOE launches equity investment joint venture and fund to aid mixed ownership moves

State-owned China Chengtong Holdings Group Ltd unveiled its new equity investment company and fund on Tuesday in Shanghai, as it pursues and promotes mixed ownership reform.

The new equity investment company, Shanghai Chengtong Equity Investment Fund Management Co Ltd, was set up by China Chengtong Oriental Asset Management, a wholly owned subsidiary of Chengtong Group, and Shanghai J. Sagacity Investment and Management, with a registered capital of 50 million yuan ($7.21 million).