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

state-owned enterprise A state-owned enterprise (SOE) is a business entity created or owned by a national or local government, either through an executive order or legislation. SOEs aim to generate profit for the government, prevent private sector monopolies, provide goo ...

. It was supervised by the State-owned Assets Supervision and Administration Commission (SASAC) of the

Shanghai Municipal People's Government The Shanghai Municipal People's Government is the local administrative agency of Shanghai. It is officially elected by the Shanghai Municipal People's Congress and is formally responsible to the SMPC and its Standing Committee. The municipal gove ...

. 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, utilising RFID technology, which can be used to access many forms of public transport and related services in and around Shanghai. Shanghai public transpo ...

, 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. The event was held every year from 2004 until 2019 before it was suspended from 2020 to 2023 due to the COVID-19 pandemic in China. The event resumed in 2024 and is con ...

which was held in

Shanghai International Circuit The Shanghai International Circuit (), also called the SAIC Shanghai International Circuit () for sponsorship purposes, is a motorsport race track, situated in the Jiading District, Shanghai, China. The circuit is best known as the venue for the ...

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 now the most common sense of the word in all varieties of ...

foreign currencies through borrowings which was the catalyst of establishing Shanghai Jiushi Corporation (). According to the company, the name is a wordplay on 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, with its precise definition a matter of longstanding debate. It has been variously described as a science and as the art ...

(). 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 List of township-level divisions of Shanghai, municipal districts and to the neighb ...

, as well as other projects such as the renovation of

Shanghai Hongqiao Airport Shanghai Hongqiao International Airport is one of two international airports serving Shanghai, China. The airport is located near the town of Hongqiao in the outskirts of Changning and Minhang districts, west of downtown, and is closer to ...

. 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 Ba ...

(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 a ...

(0.40%)

References

External links

* {{in lang, zh Chinese companies established in 1988 Companies owned by provincial governments of China Companies based in Shanghai Shanghai Metro Transport in Shanghai Transport companies of China 1987 establishments in Shanghai

History

Subsidiaries

Equity investments

See also

References

External links