Central Huijin Investment Ltd. established on December 26, 2003 is an investment

Investment

Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...

 company owned by the government

Central People's Government

The Central People's Government is the central government of the People's Republic of China in Beijing. According to the 1982 Constitution, "Central People's Government" is synonymous with the State Council.-History:...

 of the People's Republic of China

People's Republic of China

China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...

. It is a wholly owned subsidiary of China Investment Corporation

China Investment Corporation

China Investment Corporation is a sovereign wealth fund responsible for managing part of the People's Republic of China's foreign exchange reserves. CIC was established in 2007 with approximately US$200 billion of assets under management, making it one of the largest sovereign wealth funds...

 with its own Board of Directors and Board of Supervisors. Central Huijin's principal shareholder rights are exercised by the State Council

State Council of the People's Republic of China

The State Council of the People's Republic of China , which is largely synonymous with the Central People's Government after 1954, is the chief administrative authority of the People's Republic of China. It is chaired by the Premier and includes the heads of each governmental department and agency...

. The purpose of Central Huijin is to create an organizational structure by which the PRC government can operate as a shareholder for the large "big four" state owned banks, therefore to improve corporate governance and initiate reforms of the banking sector.

History

Central Huijin Investment Ltd. was acquired from the State Administration of Foreign Exchange

State Administration of Foreign Exchange

The State Administration of Foreign Exchange of the People's Republic of China is an administrative agency tasked with drafting rules and regulations governing foreign exchange market activities, and managing the state foreign exchange reserves, which at the end of July 2011 stood at $3.2 trillion...

 by the China Investment Corporation

China Investment Corporation

China Investment Corporation is a sovereign wealth fund responsible for managing part of the People's Republic of China's foreign exchange reserves. CIC was established in 2007 with approximately US$200 billion of assets under management, making it one of the largest sovereign wealth funds...

 for roughly $67 billion.

Board of Directors

• Lou Jiwei (Chairman)
• Li Jiange (Vice Chairman)
• Xie Ping (Executive Director and President)
• Wu Xiaoling (Independent Director)
• Jin Lianshu (Independent Director)

Board of Supervisors

• Jin Liqun (Chairman)
• Cui Guangqing (Supervisor)
• Ge Rongrong (Employee Supervisor)

Senior Management

• Xie Ping (Executive Director and President)
• Chen You'an (Executive Vice President)

Investments

Currently, Central Huijin holds shares in the institutions listed below: China Development Bank, Industrial and Commercial Bank of China Limited, Bank of China Limited, China Construction Bank Corporation, China Everbright Bank Co.,Ltd., China Reinsurance (Group) Corporation, China Jianyin Investment Limited, China Galaxy Financial Holding Co.,Ltd., Shenyin & Wanguo Securities Co.,Ltd., Guotai Junan Securities Co.,Ltd..

It owns majority stakes in all of the big four Chinese banks ((Bank of China

Bank of China

Bank of China Limited is one of the big four state-owned commercial banks of the People's Republic of China. It was founded in 1912 by the Government of the Republic of China, to replace the Government Bank of Imperial China. It is the oldest bank in China...

, Industrial and Commercial Bank of China

Industrial and Commercial Bank of China

Industrial and Commercial Bank of China Ltd. is the largest bank in the world by profit and market capitalization. It is one China's 'Big Four' state-owned commercial banks .It was founded as a limited company on January 1, 1984...

, China Construction Bank

China Construction Bank

China Construction Bank is one of the 'big four' banks in the People's Republic of China. To date, it is ranked as the nation's second largest and the second largest bank in the world by market capitalization and 12th largest company in the world. The bank has approximately 13,629 domestic branches...

, and Agricultural Bank of China

Agricultural Bank of China

Agricultural Bank of China Limited , also known as AgBank, is one of the "Big Four" banks in the People's Republic of China. It was founded in 1951, and has its headquarters in Beijing...

)), but does not own shares in the smaller joint-stock commercial banks which are largely owned by local governments.

As of June 7, 2006, the ownership of 'H' shares in the Bank of China

Bank of China

Bank of China Limited is one of the big four state-owned commercial banks of the People's Republic of China. It was founded in 1912 by the Government of the Republic of China, to replace the Government Bank of Imperial China. It is the oldest bank in China...

(SEHK:3988) has been:

• Central Huijin Investment: 69.265% (171,325,404,740 shares)
• RBS China: 8.467% (20,942,736,236 shares)
• AFH: 4.765% (11,785,825,118 shares)
• SSF: 4.576% (11,317,729,129 shares)
• UBS AG: 1.366% (3,377,860,684 shares)
• ADB: 0.205% (506,679,102 shares)
• Other (including private) investors: 11.356% (28,089,421,000 shares)