EB.INTL.CHINA

Company Description

China Everbright Group is a core state-owned enterprise under the jurisdiction of the central government. It is focused on the financial sector, mainly involved in banking, securities, insurance, investment management, etc. Up to the end of 2002, the total assets of the group came up to RMB360 billion yuan with 97% of those in financial assets. The business at home and abroad of China Everbright Group is managed through China Everbright Group Limited (headquarters in Beijing) and China Everbright Holdings Company Limited (headquarters in Hong Kong). The board of directors is the supreme decision making organization of the group. It runs and manages the state-owned assets under the authorization of the state. The Party Committee of the group plays a leading political role and the State Council legally posts the board of supervisors in the group. China Everbright Group adopts a parent-subsidiary corporate system. In accordance with the requirements of establishing a standardized financial holdings conglomerate, the group implements a flat and open management model and sets up a modern corporate governance structure on the basis of clear property rights and poEB.INTL.CHINArs as well as responsibilities. At present, there are financial organizations such as China Everbright Bank, Everbright Securities Company Limited, Sunlife Everbright Insurance Company Limited, etc. under the banner of China Everbright Group in mainland China. It is also the biggest shareholder of Shenyin & Wanguo Securities Company Limited. It has two listed companies: China Everbright Limited and China Everbright International Limited.