Xinhua News Agency, Beijing, July 8 (Reporter Wang Xi) On the 8th, the State-owned Assets Supervision and Administration Commission of the State Council announced that after approval from the State Council, China Poly Group Co., Ltd. (Poly Group) and China Silk Group Co., Ltd. As a whole, China Silk Group transferred to Poly Group for free and no longer directly supervises enterprises as SASAC.
According to the official website of the relevant enterprise, China Silk Group is the only state-owned enterprise group under the supervision of SASAC whose main business is silk. The Poly Group established in 1992 has now formed a development pattern focusing on international trade, real estate development, research and development and engineering services in the light industry, process raw materials and product business services, cultural and arts operations, production and sales of civilian explosives and services, and financial business As of the end of last year, the total assets of the group exceeded one trillion yuan, ranking 312th in the world's top 500.
In August 2017, after being reported to the State Council for approval, China Light Industry Group Corporation and China Crafts (Group) Company were merged into China Poly Group Corporation as a wholly-owned subsidiary.
Promoting the merger and reorganization of central enterprises is an important part of deepening the reform of state-owned and state-owned enterprises. After the implementation of the reorganization, the number of central enterprises under the supervision of the SASAC has been reduced to 96.