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China Chengtong becomes CEEG important shareholder

Department of Strategic Management     2021-09-26         

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On September 25, the inaugural meeting of China Electrical Equipment Group Co., Ltd. (CEEG) was held in Shanghai. Li Qiang, Secretary of Shanghai Municipal CPC Committee, and Hao Peng, Secretary of the CPC Committee and Chairman of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), attended the meeting and jointly unveiled the company. Hao Peng and Shanghai Mayor Gong Zheng delivered speeches respectively. Li Hongfeng, China Chengtong’s President attended the meeting.

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The electrical equipment manufacturing industry undertakes the important mission of promoting the development of new energy and ensuring national energy security. CEEG is reorganised and established on the basis of backbone enterprises in China like XD Group, XJ Group, Pinggao Group, and Shandong Electrical Engineering & Equipment Group, aiming to comprehensively optimise the layout of transmission and distribution equipment manufacturing industry in a wider field and at a higher level, and further improve the independent and controllable ability of core technologies in the field of transmission and distribution equipment and the modernisation level of industrial chain. As an important shareholder, China Chengtong has played a crucial role of state capital operating company in the establishment of CEEG. It is another case in which the Group actively implements the national strategy and promotes strategic reorganisation, integration and layout structure reform of central SOEs through equity diversification reform.

The Group’s Vice President Huang Jing’an, and head of General Office and Strategic Development Department took part in the meeting.

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