Sichuan’s SASAC, Investment Bank Agree to Promote Securitization of Province’s SOEs

Sichuan’s SASAC, Investment Bank Agree to Promote Securitization of Province’s SOEs

Dou Shicong

Date: Tue, 09/12/2017 - 20:43 / Keywords: Sichuan, BOCOM International Holdings Company, SOE Reform
Sichuan’s SASAC, Investment Bank Agree to Promote Securitization of Province’s SOEs
Sichuan’s SASAC, Investment Bank Agree to Promote Securitization of Province’s SOEs

(Yicai Global) Sept. 12 -- Xu Jin, director of the State-owned Assets Supervision and Commission of Sichuan Province, and Tan Yueheng, chairman of BOCOM International Holdings Co., [HK:3329] met in Hong Kong. They agreed to jointly promote the securitization of state-owned enterprises in Sichuan and help Sichuan Energy Investment Co. float this year.

BOCOM International Holdings, a major investment bank set up by the Bank of Communications Co. in Hong Kong, has an experienced professional team, and provides diversified financial products and services, said Tan. It will help the government of Sichuan promote SOE reform, increase the rate of assets securitization and improve the operability of state-owned capital, the State-owned Assets Supervision and Commission of Sichuan Province said yesterday.

Sichuan is amid a key stage of the deepening SOE reform. Xu said his trip to Hong Kong was aimed at boosting cooperation and securing support for the securitization of SOEs.

The two sides also reached cooperation intentions to list Sichuan Energy Investment Co. at the end of this year. Established in 2011, Sichuan Energy Investment Co. is headquartered in Chengdu and mainly engages in power generation, transmission and engineering as well as other business. Its assets are worth nearly USD612.75 million (CNY 4 billion).

Several local state-owned enterprises such as Sichuan Tourism Group Co. and Sichuan Airlines Group Co. have put forward listing plans.

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Keywords: Sichuan, BOCOM International Holdings Company, SOE Reform