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Shougang Concord International
Shoucheng Holdings Limited () is the subsidiary of Beijing-based state-owned Shougang Group engaging in seven businesses: steel manufacturing, steel trading, shipping segment, electric generation, property investment and management and other corporate businesses. History Shougang Concord International was formerly Tung Wing Steel and Iron Company Limited (Tung Wing Steel). In 1992, Shougang Group partnered with Li Ka Shing from Cheung Kong Holdings to acquire 51% and 21% of total shares of Tung Wing Steel respectively, and then Tung Wing Steel became the subsidiary of Shougang Group. In 1993, Tung Wing Steel was renamed to Shougang Concord International, the present company name. Shougang Concord International is one of the most historical red chip Red chip stocks () are the stocks of mainland China companies incorporated outside mainland China and listed in Hong Kong. It refers to businesses based in mainland China and with (majority) shares controlled either directly ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State-owned Enterprise
A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the government, control monopoly of the private sector entities, provide products and services to citizens at a lower price and for the achievement of overall financial goals & developmental objectives in a particular country. The national government or provincial government has majority ownership over these ''state owned enterprises''. These ''state owned enterprises'' are also known as public sector undertakings in some countries. Defining characteristics of SOEs are their distinct legal form and possession of financial goals & developmental objectives (e.g., a state railway company may aim to make transportation more accessible and earn profit for the government), SOEs are government entities established to pursue financial objectives and dev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |