Nanjing Gaoke: Could China's SOE be Effectively Transformed into a Market-Oriented Asset Holding Company?
Nanjing Gaoke, a Chinese state-owned enterprise (SOE), has reformed itself into a listed company in China's emerging capital market with a strategic focus on equity investment in high-potential emerging companies, enabling the SOE to effectively leverage financial resources and expand its business portfolio into diversified industries. After merely 25 years of history, Nanjing Gaoke has built up four core business sectors for its investments: urban real estate development, pharmaceuticals, finance and venture capital investment. Its shareholder equity capital has increased by more than 1,000 times compared to its original paid-up equity capital. Since the Nanjing municipal government has been the major shareholder of Nanjing Gaoke, the state-owned asset has also increased substantially with Nanjing Gaoke's business portfolio expansion. With the increasingly diversified investment portfolio managed under the structure of a listed company, Nanjing Gaoke is no longer a typical SOE but a government-controlled shareholding company fully integrated into the market economy. Its multi-tier investment system under varying organisational structure of ownerships has enabled itself to deviate from the direct control of the government's State-owned Asset Supervision and Administrative Commission and manage its asset portfolio more efficiently by following changing market conditions.
【書誌情報】
ページ数:22ページ
サイズ:A4
商品番号:HBSP-NTU123
発行日:2017/5/7
登録日:2017/8/17