Changsha State-owned Enterprise Assets Management Co.,  

1. A summary of the activities in July

In order to celebrate the birthday of the party and further enhance the cohension of the company, the company organized all the stuff to visit and study in Jiangxi Jinggangshan. This visit lasted for three days. We visited the Jinggangshan Huang Yangjie post, JinggangshanRevolutionaryMuseum, Mints, the Great people Memorial, Five Longtan Waterfall,and the RedArmyHospital,which give us a comprehensive understanding of the great revolutionary bases in the Chinese history. Which is more important is that we understand a kind of spirit ---a spirit of Jing Gang mountains. We will take this spirit to our work, work better and become the party’s good helper and firm reserve forces.

 

2. Corporation has been Authorized to Dispose of Municipal Enterprises Land Centrally.

On 26 October, 2006 , there is a conference presided over by Mayor Xie held on the third floor of city government . The conference convened the financial , land and planning departments which made some discussion on centralized disposal of land about the municipal enterprises . The meeting discussed and agreed to form meeting minutes . It was decided to authorize the municipal enterprises stateowned corporation by the Changsha SAC to dispose of the land of the municipal stateowned and collective enterprises centrally.

3. Company and Xinda Asset Management Corporation Cooperate Again

On 13 November, 2006 , Corporation and the China Xinda Asset Management Co.Changsha office signed letters of intent to transfer claims. Corporation received a transfering of 0.519 billion yuan claimed by 25municipal enterprises owned by China Xinda Asset Management Co. Changsha office.

 

4. Corporation and the China Great Wall Asset Management Corporation Celebrate the Signing Ceremony

Authorized by the municipal government, Changsha State-owned Enterprise Assets Management Co., Ltd,Management signed the “Letter of Intent Assets” with the China Great Wall Asset Management Corporation Changsha Office in the first China Central Trade Fair on 7 September, 2006 ,and also take over 1.389 billion yuan non-performing loans of 58municipal enterprises owned by the China Great Wall Asset Management Corporation Changsha Office. This cooperation is of great significance on dissolving corporate debt and the promotion of enterprise reform process.

5. Corporation and the China Huarong Asset Management Corporation at the Signing Ceremony

Corporation and the China Huarong Asset Management Corporation Changsha Office hold letter of intent of enterprise assets packet transfer project ceremony in Changsha TongCheng Internatinal Hotel on 21 July, 2006. Company got a transfer of 1.18 billion yuan loan claimed by municipal enterprises owned by the China Huarong Asset Management Corporation. 62 municipal enterprises involveded in this project , which means that another 62 state-owned enterprises which has an accumulated historical debts are expected to unfasten the heavy “ deficit ” shackles and radite new vitality in the reformation..

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