Introducing Guangcai 49
Guangcai 49 Holding Co., Ltd. (“Guangcai 49”) was founded in Beijing in 2006 with registered capital RMB 200m. Initiated by “China Society for Promotion of the Guangcai Program”, it is designed a public platform for Chinese private enterprises. Its shareholders are nearly 40 most regarded industrial or regional leading private-enterprises. Each shareholder has an equal stake in Guangcai 49.
Guangcai 49 provides investment management, asset management and consultant services.
The four functions of Guangcai 49: (1) Working in coordinate with the government to provide multiple services for the private enterprises, and to build a crisis management mechanism. (2) Helping companies to grow and develop global-competition competence by reconsolidation of industrial train. (3) Working in coordinate with core state-owned enterprises to improve overall layout of the public sector, and helps state-owned enterprises to reform. (4) To promote private enterprises to globalise their operations, and to open overseas market, from which these enterprises will strengthen their positions in the global industrial system.
The platform provided by Guangcai 49 facilitates Chinese private enterprises in accessing large-scale government projects, domestic and foreign capital.
Link: China Society for Promotion of the Guangcai Program
93 Beiheyan Dajie, Beijing 100006, China
Through the proposition and promotion of “United Front Work Department of Communist Party of China Central Committee”1 ("UFWD"), and “All-China Federation of Industry and Commerce”, China Society for Promotion of the Guangcai Program (“CSPGP”) was established by leading Chinese private enterprises and overseas business leaders on 1994-Apr-23. It was registered as a non-governmental society that holds legal status.
It was honored “Non-Governmental Organization in Special Consultative Status with the Economic and Social Council of the United Nations”, and observer in “the United Nations Conference on Trade and Development”.
The incumbent chairperson is Mr DU Qinglin2 whose predecessors are Ms LIU Yandong3 and Mr WANG Zhaoguo4. Mr HUANG Mengfu5 is the advisor. Mr QUAN Zhezhu6 is one of the vice-chairpersons.
The objective of Guangcai Programs is to eliminate poverty and to achieve prosperity of the society as a whole. CSPGP tries to attain this by donations and investment in projects on education, natural resources, and trading. Guangcai Programs promote social developments in multiple areas such as hygiene, education, and culture. The programs bring efficiency, advanced management concepts to the invested enterprises. The programs gain global influences.
Up to 2007, CSPGP set up 16244 Guangcai Projects in less-developed regions in western China. The projects involved total investment RMB 133.7bn and donation RMB 117.9bn, with eight million people relieved from poverty.
Chinese country-leaders and ordinary people praised the contributions made by Guangcai Programs in the last 14 years. The public acknowledges CSPGP’s activities.
1 A Chinese government department responsible for coordinating relationship between different political parties and between ethnic groups, and to support development of the private-sector economy
2 Vice-chairman of the Chinese People’s Political Consultative Conference National Committee; minister of UFWD
3 Member of the Communist Party’s Politburo; State Councillor
4 Member of the Communist Party’s Politburo; vice-chairman of National People’s Congress
5 Vice-chairman of the Chinese People’s Political Consultative Conference National Committee; chairman of All-China Federation of Industry and Commerce
6 Party-secretary (ministerial level), and vice-chairman of All-China Federation of Industry and Commerce