Shanghai Jiushi (Group) Co., Ltd. is a Chinese

state-owned enterprise A state-owned enterprise (SOE) is a Government, 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 (econom ...

. It was supervised by the State-owned Assets Supervision and Administration Commission (SASAC) of . Jiushi is the parent of several public transport companies of Shanghai, including the operator of

Shanghai Public Transport Card The Shanghai Public Transportation Card (SPTC) ( also known as ) is a contactless card, utilizing RFID technology, which can be used to access many forms of public transport and related services in and around Shanghai. Uses The SPTC is a form ...

, as well as equity investments in several listed companies based in Shanghai. The company also has a subsidiary that was the organizer of

Chinese Grand Prix The Chinese Grand Prix () is a round of the Formula One World Championship and was contracted to return in 2023 but will now not do so until 2024 at the earliest. It is currently held at the Shanghai International Circuit, Jiading, Shanghai, d ...

which was held in

Shanghai International Circuit The Shanghai International Circuit () is a motorsport race track, situated in the Jiading District, Shanghai. The circuit is best known as the venue for the annual Chinese Grand Prix which was hosted from 2004 to 2019 and was scheduled again fro ...

History

In 1986, Shanghai Government was allowed to use a maximum of US$3.2

billion Billion is a word for a large number, and it has two distinct definitions: *1,000,000,000, i.e. one thousand million, or (ten to the ninth power), as defined on the short scale. This is its only current meaning in English. * 1,000,000,000,000, i.e ...

foreign currencies through borrowings which was the catalyst of establishing Shanghai Jiushi Corporation (). According to the company, the name had the same pronunciation of 94 (), which was the issue number of the document of the State Council regarding the use of such foreign currencies . The company was incorporated on 12 December 1987 under the

Law on Industrial Enterprises Owned by the Whole People Law is a set of rules that are created and are enforceable by social or governmental institutions to regulate behavior,Robertson, ''Crimes against humanity'', 90. with its precise definition a matter of longstanding debate. It has been vario ...

(). The Company Law of China was legislated in 1993. Jiushi Group used the fund in

Shanghai Metro The Shanghai Metro (; Shanghainese: ''Zaon6he5 Di6thiq7'') is a rapid transit system in Shanghai, operating urban and suburban transit services to 14 of its 16 municipal districts and to Kunshan, Jiangsu Province. Served as a part of Shangha ...

, as well as other projects such as the renovation of

Shanghai Hongqiao Airport Shanghai Hongqiao International Airport is one of the two international airports of Shanghai and a significant airline hub of China. Hongqiao Airport mainly serves domestic and regional flights, although the airport also serves international fl ...

. In 2015 the company was re-incorporated as Shanghai Jiushi (Group) Co., Ltd., under the Company Law of China.

Subsidiaries

* (Former Ba-shi (Group), 100%) * Shanghai Shen-Tie Investment (99.72%) * Shanghai Shentong Metro Group (66.57%) ** Shanghai Shentong Metro (, 58.43%) * Qiangsheng Holding (, 48.00%) *

(92%) * Shanghai Transportation Investment (Group) Ltd * Shanghai New Union Building Co.,Ltd. * Shanghai Jiushi Properties Co.,Ltd. * Shanghai Jiushi Investment Management Co.,Ltd.

Equity investments

China Pacific Insurance Company China Pacific Insurance (Group) Co., Ltd. (CPIC) known as Pacific Insurance, is a Chinese insurance company. It was established on the basis of the former China Pacific Insurance Corporation, which was founded in 1991 approved by the People's Ban ...

(2.77%) *

Shanghai International Port Group Shanghai International Port (Group) Co., Ltd. (SIPG) is the exclusive operator of all the public terminals in the Port of Shanghai. It is a component of SSE 180 Index as well as CSI 300 Index and sub-index CSI 100 Index. Its headquarters are ...

(0.40%)

References

External links

* {{in lang, zh Chinese companies established in 1988 Companies owned by the provincial government of China Companies based in Shanghai Shanghai Metro Transport in Shanghai Transport companies of China

History

Subsidiaries

Equity investments

See also

References

External links