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Li Hongfeng Conducts Research Visit to Chengtong Fund

2023/08/31

On November 14, Li Hongfeng, President of the Group and Deputy Secretary of the Party Committee, conducted a research visit to Chengtong Fund. Tong Laiming, Vice President of the Group, accompanied the visit.

At the meeting, Wei Ran, General Manager of Chengtong Fund, reported on the company’s overall operations; Miao Qinghua, Secretary of the Party Committee, presented a report on the Party Committee’s work and on the implementation of corrective measures arising from the thematic education campaign; and Liu Qizheng, Head of the Joint Discipline Inspection Team dispatched by the Group, briefed the attendees on the progress of the company’s discipline inspection efforts.

Tong Laiming proposed that the National Investment Fund should, in its next phase, carefully manage the pace of investment; that the investment team should deeply and meticulously cultivate its areas of focus and specific industries, striving to become the lead investor in those sectors; that the operations of the Investment Committee should be further standardized, research efforts strengthened, and a research-first approach upheld, with close integration between investment and research. At the same time, the fund should enhance talent development within the management company, remain performance-oriented, and further optimize the structure of its talent pool.

Li Hongfeng fully commended the Fund’s achievements over the past three years, noting that through its investments the Fund has played its due role in implementing national strategies and in supporting the structural adjustment and transformation and upgrading of state-owned enterprises, thereby effectively fulfilling its mission. Moreover, the Fund has made notable progress and achieved tangible results in areas such as Party building, risk management, and workforce development.

Li Hongfeng set forth the following requirements for the Fund’s next phase of work: First, further elevate political awareness, strengthen Party leadership, and fully implement the Fund’s mission, thereby making due contributions to the Group’s development and to the pilot program of the Capital Operations Company. Second, pursue precise positioning, successfully carry out structural adjustment tasks, and at the same time meet shareholders’ expectations. Third, further enhance professional competence, raise the Fund’s industry reputation, leverage its professional strengths and the advantages of state-owned capital, and become a fund manager that is highly responsible and committed. Fourth, further strengthen risk identification, strictly adhere to investment red lines, and rigorously control investment risks. Fifth, maintain firm confidence and unwavering commitment to core principles; draw on the experiences and lessons learned over the past three years to improve investment performance and management standards, so that the National Adjustment Fund truly serves as a flagship for state-owned asset and state-owned enterprise reform, a successful model for the Capital Operations Company pilot program, and a key driver of structural adjustments among central SOEs.

At the meeting, Li Hongfeng conducted a “look-back” review of the rectification and implementation of the thematic education campaign at Chengtong Fund, in accordance with the Notice of the Leading Group for the Central Party’s “Remain True to Our Original Aspiration and Keep Our Mission Firmly in Mind” Thematic Education Campaign on Conducting a “Look-Back” Review of the Rectification and Implementation Efforts of the First Batch of Units Involved in the Campaign (Document No. 34 of 2019 issued by the Leading Group) and relevant work arrangements made by the Party Committee of the State-owned Assets Supervision and Administration Commission, and put forward corresponding requirements.

Heads of the Group President’s Office, Human Resources Department, Financial Management Department, Strategic Management Department, and Financial Management Department attended the research visit.

The Party Committee of the Group Held a Review and Analysis Meeting on the Follow-Up Implementation of Rectification Measures from the “Remain True to Our Original Aspiration and Keep Our Mission Firmly in Mind” Thematic Education Initiative

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