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Zhu Bixin attended CITIC Dicastal Reform Agreement Signing Ceremony

Office of the President     2019-12-25         

On December 23, the CITIC Dicastal Co., Ltd. (CITIC Dicastal) Reform Agreement Signing Ceremony was held in Beijing. China Chengtong’s Secretary of the CPC Committee and Chairman Zhu Bixin attended the ceremony. CCT Fund’s General Manager Wei Ran signed the agreement on behalf of China Structural Reform Fund (CSRF). CITIC Group’s General Manager Wang Jiong, Deputy General Manager Cai Xiliang, and CITIC Group Deputy General Manager and CITIC Dicastal Chairman Xu Zuo witnessed the signing ceremony.

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CITIC Dicastal is a leading supplier for aluminum wheel and chassis components in the world. Its production and sales volume of aluminum wheels rank the first in the world for 10 consecutive years. CITIC Dicastal ranks 65th among the top 100 global OEM parts suppliers, according to Automotive News, a leading American automotive media. CSRF has invested 510 million yuan and jointly held 60% of the equity of CITIC Dicastal with six other Chinese and foreign investment institutions and the company’s employee shareholding platform. When this round of reform concludes, CITIC Dicastal will see a corporate governance structure and management mechanism that boasts diversified equity model and market-driven operation. The reform will equip CITIC Dicastal with an enhanced professional manager employment system and ensure concerted long-term interests of core employees with the company. All these measures will help make CITIC Discastal a globally leading chassis components supplier with endless innovation ability and international competitiveness.

Prior to the signing ceremony, Zhu Bixin met with Wang Jiong and exchanged views on enhancing bilateral cooperation and promoting win-win development.

Head of China Chengtong’s President Office attended the ceremony and meeting.

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