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Chinalco Spent 2 Billion Yuan to Build Financial Capital Platform

Following fast-paced preparation spanning three months, Chinalco quickly expanded the territory of its financial business by setting up Chinalco Capital Holdings Co., Ltd (hereinafter Chinalco Capital) and Chinalco Financing Leasing Co., Ltd (hereinafter Chinalco Leasing), with which it lifts the status of its finance division as the company’s strategic emerging industry.

According to Liu Caiming, Deputy General Manager of Chinalco, Chinalco Capital has a registered capital of 2 billion yuan, which is totally invested by Chinalco. As the organization of investment, management, supervision and service for Chinalco’s financial industry, Chinalco Capital is an important platform of the company’s move to invest and develop finance industry. Chinalco Leasing has a registered capital of 800 million yuan, which is jointly contributed by Chinalco Capital, and Chinalco Overseas Holdings Co., Ltd, the financial leasing platform will take advantage of the plaque-hanging of Tianjin Free Trade Zone, and rely on unique functional advantage, location advantage, policy advantage in trade and finance fields, as well as the concentration effect of leasing industry in the Free Trade Zone.

“In the early days it will continue to provide financial services to Chinalco’s entire industrial chain, later it will gradually shift to offer services to other industries, in the later stage it may also introduce other investors.” said Liu Caiming when receiving interview from reporter of the “Economic Information Daily”, 2015 is a crucial year for Chinalco to reverse loss, extricate itself from difficulty, and achieve transition development, Chinalco’s internal operation conceals huge and multiple-layered financial needs, meanwhile, its internal financial resource urgently needs integration, industrial finance has huge development potential in Chinalco.

According to what the reporter has learned, since Chinalco set up financial division, it has established Chinalco Finance Company Limited, Chinalco Insurance Brokerage (Beijing) Co., Ltd, both accumulated experience and ability for Chinalco’s financial industry.