CMPO is Listed after Assets Restructuring and the Name Change SZSE Facilitates the Reform of Central SOEs
Date: 2019-12-18
On December 16, the Assets Restructuring and Renaming & Listing Ceremony of China Merchants Property Operation & Service Co., Ltd. (“CMPO”) was held at SZSE. The property management assets of China Merchants Group were injected into the listed company AVIC SUNDA. The stock name was officially changed from “AVIC SUNDA” to “CMPO”, and the code was changed to 001914. More than 300 leaders and guests including Chairman of China Merchants Group Mr. Li Jianhong, President of China Property Management Institute (“CPMI”) Mr. Shen Jianzhong and President & CEO of SZSE Mr. Wang Jianjun attended the listing ceremony. The restructuring is another important achievement of the continuous deepening of strategic cooperation between China Merchants Group and SZSE following the listing of CMSK, CMET and CM Port Group on SZSE. It is also an important step for the capital market to help SOEs deepen reform and support the supply-side structural reform.
Good deeds shall reach forward to future generation. The restructuring signifies the quality asset integration and business collaboration in the property sector between China Merchants Group and Aviation Industry Corporation of China, Ltd. It serves as a good example of two central SOEs to implement the overall plan of reform of SOEs, concentrate resources to strengthen and improve main business, and realize the market-oriented integration of the business sector of central SOEs. As for listed companies, it is also conducive to expanding their management, improving their governance structures, enhancing their multi-industry management capabilities, and broadening their professional services. Ji Yu Property Co., Ltd., established in 1914, is the earliest real estate operation company in China in the 20th century. The restructured CMPO will bear the century-old mission of stock asset management, operation and service of China Merchants Group and officially set sail anew.
SZSE, as an important platform for the capital market to serve the national strategies, has made continuous and full efforts to improve the quality and effect of the reform of SOEs via different channels. At present, it has established a diversified cooperation mechanism with more than 60 central SOEs to push through the implementation of a number of projects in a pragmatic manner and to explore the practice approach of using capital market to improve the efficiency of state-owned capital operation. Next, SZSE will pursue progress in the implementation of the key task of CSRC in deepening sweeping reforms of capital market. Working closely around the fundamental goal of promoting the high-quality development of the economy, it will give full play to the advantages of market, technology, services and location, deepen market reform, and enhance its ability of direct financing. It will improve basic systems, upgrade market cultivation and promote law-based corporate governance. Through all these efforts, it will endeavor to help improve the quality of listed companies and better serve the building of the Guangdong-Hong Kong-Macao Greater Bay Area and the Pilot Demonstration Area of Socialism with Chinese Characteristics.
