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37-639: Established in 2003 by the People's Bank of China , five years later it became a wholly-owned subsidiary of China Investment Corporation , with its own Board of Directors and Board of Supervisors. Central Huijin's principal shareholder rights are exercised on behalf of the State Council . Central Huijin is an organization by which the Chinese government can act as a shareholder for the "big four" state-owned banks, thereby improving corporate governance and initiating reforms of

74-628: A sub-provincial network of city-level and county-level sub-branches. That same year, the so-called credit plan, a key feature of China's former state planning process, was finally abandoned, allowing the PBC to play a genuine role as monetary policy authority. In 2003, the Standing Committee of the National People's Congress approved an amendment law for strengthening the role of PBC in the making and implementation of monetary policy for safeguarding

111-1145: A supplier for AC control, heating control, solar thermal system and green homebuilding Asset management [ edit ] JIC Trust Co., Ltd. Guotai Asset Management Co., Ltd. JIC Leasing Co., Ltd. China Investment Consulting Co., Ltd. References [ edit ] ^ "about JIC" . ^ "SGD PHARMA CONFIRMS JIC'S ARRIVAL AS THE GROUP'S NEW SHAREHOLDER" . ^ Samson, Adam (13 June 2016). "NXP to sell Standard Products for $ 2.8bn" . Financial Times . External links [ edit ] Official website [REDACTED] Retrieved from " https://en.wikipedia.org/w/index.php?title=China_Jianyin_Investment&oldid=1253208159 " Categories : Financial services companies of China Companies based in Beijing Chinese companies established in 2004 China Investment Corporation Government-owned companies of China 2004 in Beijing Hidden categories: Articles with short description Short description

148-671: A transition from that single-tier banking system to a two-tier system, which was largely completed by 1984. In March 1979, as part of the Chinese economic reforms , the State Council split off state-owned banks from the PBC, first the Agricultural Bank of China (ABC) and the Bank of China (BOC). The People's Construction Bank of China , which had been run separately under the Ministry of Finance,

185-819: Is a Chinese investment company owned by the government of the People's Republic of China . Founded in 2004, it is a wholly-owned subsidiary of Central Huijin Investment and is an integrated investment group focused on equity investments. The group is headquartered in Beijing and owns more than 160 wholly-owned or holding enterprises and institutions in 29 Chinese provinces, autonomous regions, municipalities and Hong Kong SAR. It has also established affiliated agencies in Europe. Businesses [ edit ] Investment [ edit ] Portfolio [ edit ] SGD Pharma, manufacturer of primary glass packaging and containers for

222-480: Is nominated by the premier of the State Council , who is then approved by the National People's Congress or its Standing Committee and appointed by the president .The deputy governors of the PBC are appointed to or removed from office by the premier. The PBC adopts the governor responsibility system under which the governor supervises the overall work of the PBC while the deputy governors provide assistance to

259-565: Is the central bank of the People's Republic of China . It is responsible for carrying out monetary policy as determined by the People's Bank Law and the Commercial Bank Law. The PBC was established in 1948 and became China's sole central bank after the founding of the People's Republic of China in 1949. From 1969 to 1978, the PBC was demoted to a bureau of the Ministry of Finance . The PBC

296-652: The 8th National People's Congress , and was granted a higher degree of autonomy than other State Council ministries by an act that year. In 1996 and 1996, the PBC established fundamental regulations on loans and consumer credit. In 1998, the PBC underwent a major restructuring. All provincial and local branches were abolished, and the PBC opened nine regional branches, whose boundaries did not correspond to local administrative boundaries. The nine branches were located in Chengdu , Guangzhou , Jinan , Nanjing , Shanghai , Shenyang , Tianjin , Wuhan , and Xi'an , complemented by

333-407: The Bank of China were either organized as divisions of the PBC or were non-deposit taking agencies. From 1952 to 1955 government shares were added to private banks to make state-private banks, until under the first Five Year plan from 1955 to 1959 the PBC had complete control of the private banks, making them branches of the PBC, closely resembling the vision of Vladimir Lenin . With aid from

370-525: The Soviet Union , the shares of private enterprises and with them industrial output followed a similar path, forming a Soviet-style planned economy . During the Cultural Revolution , the PBC suspended its commercial banking service. In June 1969, the State Council approved the consolidation of PBC's headquarters as a bureau within the Ministry of Finance . In that context, the PBC's head office

407-490: The State Council . The PBC lacks central bank independence and is required to implement the policies of the Chinese Communist Party (CCP) under the direction of the party's Central Financial Commission . The PBC is led by a Governor assisted by several Deputy Governors and a CCP Committee Secretary . Since 2023, the roles of Governor and CCP Committee Secretary have been held jointly by Pan Gongsheng . The bank

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444-466: The renminbi . As of 2021 , China has swap agreements with 40 countries. In 2010, the PBC issued administrative measures regarding online non-financial payment services . These measures retroactively recognized the legal status of online third-party payment platforms like Alipay . Prior to the 2010 measures, these services existed in a legal grey area. In 2015, the PBC hosted China's first formal deposit insurance scheme. In 2019, this scheme

481-602: The "shareholder in chief" of the entire financial sector, a role that allows the state to participate in the market consistent with global norms of corporate ownership structure without letting go of state oversight of strategic enterprises and sectors. Central Huijin indirectly supports the Belt and Road Initiative through its support of domestic financial institutions, such as policy banks or state-owned commercial banks, which in turn fund BRI projects. In December 2019, Central Huijin bailed out Hengfeng Bank. Initially, Guo Shuqing

518-676: The Credit Reference Centre to provide financial credit reporting. In 2008, the PBC lost the direct ownership stakes it had built up in much of China's financial sector as the ownership of Central Huijin was transferred to the China Investment Corporation (CIC), a newly created sovereign wealth fund . During the Great Recession , the PBC helped address bank liquidity crisis by signing swap agreements with numerous other countries to provide them with liquidity based on

555-636: The PBC as of 2012: The PBC is active in promoting financial inclusion policy and a member of the Alliance for Financial Inclusion. The head office building of the PBC, on West Chang'an Avenue , was constructed in 1987–1990 on a design by a team of architects led by Zhou Ru. While its materials are modern, its shape refers to two traditional Chinese motifs, namely yuanbao ingots and "wealth vases" ( Chinese : Jùbǎopén ) from Chinese folklore. China Jianyin Investment From Misplaced Pages,

592-479: The PBC in the Caribbean Development Bank). The PBC Monetary Policy Committee is an advisory body chaired by the PBC governor. It typically includes the directors and deputy directors of other financial agencies, as well as a few influential academic economists. As of 2019 , the PBC consisted of functional departments (bureaus) as below: The following enterprises and institutions were directly under

629-660: The PBC is the most powerful position in the bank and can hold more sway than the governor. The current CCP committee secretary is Pan Gongsheng. The PBC has branches in each 31 provincial-level administrative divisions in China, branches in five cities (Shenzhen, Dalian, Ningbo, Qingdao, and Xiamen), and 317 branches in prefecture-level divisions . It has 6 overseas representative offices (PBC Representative Office for America, PBC Representative Office (London) for Europe, PBC Tokyo Representative Office, PBC Frankfurt Representative Office, PBC Representative Office for Africa, Liaison Office of

666-660: The PBC reluctantly lost its direct authority over banking supervision with the creation of the China Banking Regulatory Commission . In 2005, the PBC elevated its branch in Shanghai to the status of "second head office", in a move intended to mirror the prominent market-facing role of the Federal Reserve Bank of New York within the US Federal Reserve System . In 2006, the PBC established

703-527: The People's Bank of China, significant power in the securities industry despite not having formal legal oversight. Central Huijin's track record of restructuring financial institutions has largely been viewed as a success. In 2008, Central Huijin Investment was acquired from the State Administration of Foreign Exchange by the China Investment Corporation for roughly $ 67 billion. It manages more than two-thirds of CIC's assets. Central Huijin functions as

740-506: The State Council with restructuring Chinese brokerages. During the period 2004-2007, Central Huijin and Jianyin Investment acquired controlling stakes in ten large Chinese brokerage firms, totaling at that time one-third of the Chinese securities industry. The brokerages recapitalized in 2005 included Galaxy Securities , China Southern Securities (which was subsequently liquidated), Shenyin & Wanguo Securities, and Guotai Junan Securities . This in turn gave Central Huijin's parent institution,

777-463: The abolition of the nine regional branches established in 1998, which had already seen their authority watered down by a change in 2004 that had returned authority to the PBC's branches at the provincial level and further changes in 2018. Additionally, the PBC's county-level branches were absorbed by city-level branches. The new branches were inaugurated on August 18, 2023. The oversight over financial holding companies and financial consumer protection

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814-522: The banking industry. Central Huijin was established in 2003 by the People's Bank of China . It was created as a special purpose vehicle incorporated as a limited liability company. Its mission was to recapitalize China's banks . Researcher Zongyuan Zoe Liu writes that using a sovereign fund like Central Huijin gave "the CPC the maximum degree of flexibility to decide when it would leave the market to its own devices and when it would forcefully intervene to protect

851-561: The directors of the boards on its banks. It owns majority stakes in all big four Chinese banks ( Bank of China , Industrial and Commercial Bank of China , China Construction Bank , and Agricultural Bank of China ), but does not own shares in the smaller joint-stock commercial banks which are largely owned by local governments. As of 2023, Central Huijin is the largest shareholder of the vast majority of Chinese financial institutions. People%27s Bank of China The People's Bank of China (officially PBC and unofficially PBOC )

888-818: The 💕 Chinese state-owned investment company China Jianyin Investment Native name 中国建银投资有限责任公司 Company type State-owned enterprise Industry Equity Investment;Asset Management Founded 2004 Headquarters Beijing, China Parent Central Huijin Investment Website www .jic .cn [REDACTED] China Jianyin Investment Co., Ltd. Simplified Chinese 中国建银投资有限责任公司 Traditional Chinese 中國建銀投資有限責任公司 Transcriptions China Jianyin Investment Co., Ltd. (JIC)

925-508: The governor to fulfill his or her responsibility. The current governor is Pan Gongsheng . Deputy governors of the management team include: Zhu Hexin , Zhang Qingsong , Xuan Changneng , Lu Lei , and Tao Ling . The PBC does not have central bank independence and is required to implement the policies of the Chinese Communist Party (CCP). It operates under the direction of the CCP's Central Financial Commission . The CCP committee secretary of

962-489: The late 1980s and early 1990s. In 1990, the PBC moved into its new head office building, prominently located on West Chang'an Avenue . In 1991, vice governor Chen Yuan spearheaded the creation of the Electronic Interbank System (EIS), the PBC's first state-of-the-art financial market infrastructure . In 1992, however, the PBC had to reluctantly concede the spinning off of its securities regulatory duties to

999-405: The newly established China Securities Regulatory Commission , whose first chair was former PBC vice governor Liu Hongru . The bank's profile was greatly raised by the appointment of Zhu Rongji as its Governor in 1993, simultaneously as his role as Vice Premier in charge of economic and financial affairs. . Its central bank status was legally confirmed on March 18, 1995, by the 3rd Plenum of

1036-525: The overall financial stability and provision of financial services. That year, the long overdue restructuring of China's banking sector made major progress with the creation of Central Huijin Investment , a PBC-managed fund that allowed the PBC to take the lead from the Ministry of Finance on the restructuring process and from the CCP Central Organization Department on the appointment of senior bank executives. That same year, however,

1073-653: The pharmaceutical industry Miquel Alimentació Group, a Spanish company specializing in food wholesale, franchising and supply chain management Pacoma GmbH, one of Europe's suppliers of hydraulic cylinders NXP CRCC High-tech Equipment , China's largest railway track maintenance machinery supplier Dali Foods Group, a snack foods & beverage company in China Zoomlion Shanghai Rural Commercial Bank CCB Life Insurance JAC Motors HaiLin Energy Technology Inc.,

1110-659: The state's interest." Between 2003 and 2006, Central Huijin functioned as a quasi-state-owned private equity fund. In 2005, the State Council approved the Comprehensive Plan for the Consolidation of Brokerage Firms, with the goal of implementing new regulatory mechanisms and rooting out misconduct in the securities field. Central Huijin wholly-owned subsidiary Jianyin Investment, along with the China Securities Investor Protection Fund, were tasked by

1147-482: Was also made autonomous (and later renamed China Construction Bank in 1986). In January 1984, the PBC's own commercial banking operations were spun off as the Industrial and Commercial Bank of China (ICBC). In September 1983, the State Council had promulgated that the PBC would function exclusively as the central bank of China and no longer undertake commercial banking activities. Modernization efforts continued in

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1184-494: Was also transferred from the PBC to the newly established National Financial Regulatory Administration (NFRA). Around 1,600 county-level branches of the PBC are planned to be absorbed to the NFRA; the PBC had 1,761 such branches at the end of 2021. The PBC is a cabinet -level executive department of the State Council . The top management of the PBC are composed of the governor and a certain number of deputy governors. The governor

1221-563: Was downsized to no more than eighty staff. Local PBC branches were correspondingly merged into local government finance departments. The institutional demotion of the PBC was reversed in March 1978 as it was separated from the Finance Ministry and granted ministerial ranking. By then and with the exception of special allocations for rural development, the monolithic PBC dominated all business transactions and credit. In 1979, China initiated

1258-610: Was established on December 1, 1948, based on the consolidation of the Huabei Bank, the Beihai Bank and Northwestern Farmers' Bank. The headquarters was first located in Shijiazhuang , Hebei , and then moved to Beijing in 1949. Between 1950 and 1978 the PBC was the only bank in the People's Republic of China and was responsible for both central banking and commercial banking operations. All other banks within mainland China such as

1295-422: Was extensively reformed during the 1990s, when its provincial and local branches were abolished, instead opening nine regional branches. In 2023, these reforms were reversed as when the regional branches were abolished and the provincial branches restored, and new arrangements essentially ended the PBC's longstanding role in financial supervision . The PBC is the 25th-ranked of 26 ministerial-level departments of

1332-503: Was reorganized as a subsidiary of the PBC, the Deposit Insurance Fund Management Company. Meanwhile, in 2017, the PBC was tasked with the secretariat of China's newly established Financial Stability and Development Committee chaired by Vice Premier Liu He . In 2020, the PBC initiated supervision of significant financial holding companies . The PBC underwent through another major restructuring in 2023, with

1369-1251: Was the chairman of Central Huijin, and its general manager was Xie Ping , a former chief of the PBC's Research Bureau and director of its Financial Stability Bureau (also established in 2003). More recently under the CIC, the board of directors of Central Huijin has consisted of Ding Xuedong (Chairman & CEO), Li Jiange (Vice Chairman), and Bai Tao (Executive Director and President). As of 31 December 2020, Central Huijin held shares in 17 financial institutions: China Development Bank (holding 34.68 percent of its shares as of 2019), Industrial and Commercial Bank of China , Agricultural Bank of China , Bank of China , China Construction Bank , China Everbright Group , Hengfeng Bank , China Export & Credit Insurance Corporation , China Reinsurance (Group) Corporation , New China Life Insurance Co., China Jianyin Investment Ltd., China Galaxy Financial Holdings Co. Ltd., Shenwan Hongyuan , China International Capital Corporation , China Securities , China Galaxy Asset Management Co. Ltd., and Guotai Junan Investment Management Co. Ltd. Central Huijin requires that it be able to seat one third of

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