The Reorganization Of Poly Group And China Silk Group Will Strengthen The Core Competence Of Both Sides.

In July 8th, the SASAC website announced that, after being approved by the State Council, China Poly Group Limited (hereinafter referred to as Poly Group) and China Central Silk Group Limited (hereinafter referred to as China Silk Group) implemented the restructuring, and the whole silk group was transferred to Baoli group without compensation, and no longer was directly supervised by the SASAC. The number of central enterprises supervised by the SASAC of the State Council has changed from 97 to 96.

Statistics show that the China silk group is the only central business group directly supervised by the SASAC. China silk group is a comprehensive enterprise group which takes silk as the main industry, chemical logistics, comprehensive trade, fashion magazines, property management and so on. China silk group can be traced back to the Chinese silk company established in Shanghai in 1946. It is one of the oldest and largest enterprises in China's Silk Import and export trade. In recent years, China silk group has formulated and implemented a new strategy of transformation and development, and has rapidly transformed into industrial management on the basis of consolidating, adjusting and improving the traditional business of silk trade.

Baoli group, a large central enterprise managed by the SASAC, was approved by the State Council and the Central Military Commission in 1992. Over the past 30 years, the Poly Group has formed the development pattern of international trade, real estate development, light industry R & D and engineering services, process raw materials and product management services, cultural and art management, civilian explosives production, marketing and services, and financial business. The business has spread to over 100 cities in the country and nearly 100 countries in the world. By the end of 2018, the total assets of Poly Group were more than trillion yuan, ranking 312nd in the world's top 500.

For the significance and role of the restructuring of the two major enterprises, Zhou Lisha, a researcher at the SASAC Research Center, said in an interview with the media that Pauli group and China silk group could improve their operating efficiency through the reorganization of the industrial chain. This is a typical "big" swallow of "small" way.

Why do we choose Poly Group as the object of reorganization with China silk group? Zhou Lisha analysis said that in 2016, Poly Group was listed as a pilot of state-owned capital investment company, undertaking the function of industrial integration and industrial accumulation. In 2017, China Light Industry Group and China Technology (Group) company merged into poly group and became a wholly owned subsidiary.

The Poly Group and China silk group, in accordance with the principle of complementary advantages and win-win development, aim at strengthening the core competence of both sides and realizing the synergy and sharing of business resources. We should promote the optimization of the distribution of state-owned capital, improve the efficiency of resource allocation, promote structural reforms on the supply side, promote transformation and upgrading of enterprises, and enhance the economic efficiency of enterprises. At the same time, we will continuously enhance the vitality, control, influence, competitiveness and risk tolerance of the state-owned economy.

As for early signs of the reorganization, Poly Group has also made full preparations for restructuring with China silk group. In 2017, China silk group was incorporated into Poly Group trusteeship. Zhang Xi, deputy general manager of Poly Group, also serves as chairman of China silk group.