China Everbright Group

China Everbright Holdings was established in British Hong Kong in 1983,{{cite web|url=http://www.ebchina.com/ebchina/about.shtml|script-title=zh:中国光大集团简介|access-date=17 October 2016|publisher=China Everbright Group|language=Chinese|archive-url=https://web.archive.org/web/20161019002340/http://www.ebchina.com/ebchina/about.shtml|archive-date=19 October 2016|url-status=dead}} by three proxy persons for the Government of China: Wang Guangying, Zhang Lansheng ({{zh|c=张澜生}}) and Ren Xiguang ({{zh|c=任锡光}}), with Wang "owned" most of the shares until 1990, which was transferred to Qiu Qing ({{zh|t=邱晴}}), the second chairman of the company.1983 Annual Return, Hong Kong Companies Registry1990 Annual Return, Hong Kong Companies Registry Wang was the chairman and one of the five executive directors along with Kong Dan and three others in 1985, which was ratified by the State Council of the People's Republic of China.{{cite web|url=http://www.gov.cn/zhengce/content/2013-09/06/content_7525.htm|script-title=zh:国函﹝1985﹞：28号国务院关于光大实业公司成立董事会的批复|date=19 February 1985|access-date=21 October 2016|publisher=State Council of the People's Republic of China|language=Chinese|archive-date=22 October 2016|archive-url=https://web.archive.org/web/20161022023854/http://www.gov.cn/zhengce/content/2013-09/06/content_7525.htm|url-status=live}} The State Council ratified the establishment of Everbright by a State Council document numbered No.89 [1983]. ({{zh|s=国务院国发[1983]89号文}}, not published to the public).{{cite web|url=http://www.ebchina.com/ebchina/historyEvolution.shtml|script-title=zh:历史沿革|trans-title=History|access-date=21 October 2016|publisher=China Everbright Group|language=Chinese|archive-url=https://web.archive.org/web/20161022025614/http://www.ebchina.com/ebchina/historyEvolution.shtml|archive-date=22 October 2016|url-status=dead}}

The group now had a parent company incorporated in Beijing (as China Everbright Group, was known as {{zh|c=中国光大（集团）总公司}}, incorporated in 1990 but could be traced back to {{lang|zh|光大实业公司}}, the name used in the document of the State Council) and a wholly owned subsidiary incorporated in Hong Kong (China Everbright Holdings Co., Ltd. {{zh|s=中国光大集团有限公司}} was known as Violight Industry Co., Ltd. {{zh|s=紫光实业有限公司}} from 1983 to 1984). Due to foreign exchange controls, the main overseas businesses were centered on the Hong Kong–based subsidiary.

Everbright Group founded China Everbright Bank in 1992, the stake in the bank was diluted by the subscription of new shares by Central Huijin Investment in 2007, as well as Everbright Group injected part of the stake of the bank to Everbright Group's subsidiary: China Everbright Limited in 1997.

In 1993 China Everbright Group acquired 20 percent stake of Hong Kong–based International Bank of Asia.{{cite web|url=http://www.fubonbank.com.hk/web/html/ir_cin_history_e.html|title=Key Milestones & Accolades|access-date=17 October 2016|publisher=Fubon Bank (Hong Kong)|archive-date=19 October 2016|archive-url=https://web.archive.org/web/20161019040816/http://www.fubonbank.com.hk/web/html/ir_cin_history_e.html|url-status=live}} (The stake was then injected to China Everbright Limited in 1997, which was sold in 2004.{{cite web|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2004/0308/LTN20040308100.pdf|title=Discolsable Transaction|date=8 March 2004|access-date=17 October 2016|work=China Everbright Limited|publisher=Hong Kong Stock Exchange|archive-date=18 October 2016|archive-url=https://web.archive.org/web/20161018231448/http://www.hkexnews.hk/listedco/listconews/SEHK/2004/0308/LTN20040308100.pdf|url-status=live}})

Everbright Group also acquired several listed companies as reverse IPO to form China Everbright Limited ({{hkex|00165}}) in 1994 (renamed and restructured in 1997){{cite web|url=http://www.everbright165.com.hk/about-us/corporate-profile|title=Corporate Profile|access-date=17 October 2016|publisher=China Everbright Limited|archive-url=https://web.archive.org/web/20161018210041/http://www.everbright165.com.hk/about-us/corporate-profile|archive-date=18 October 2016|url-status=dead}} and China Everbright International Limited ({{hkex|00257}}) in 1993.

Everbright Securities was founded in Shanghai in 1996.

In 1998, instead of reporting to the State Council directly, Everbright Group was assigned to the People's Bank of China as the intermediate supervising entity.{{cite web|url=http://www.gov.cn/zhengce/content/2000-11/15/content_2063.htm|script-title=zh:国办发(1998)9号:国务院办公厅关于部委联系公司的通知|date=29 March 1998|access-date=21 October 2016|publisher=General Office of the State Council|language=Chinese|archive-date=22 October 2016|archive-url=https://web.archive.org/web/20161022024744/http://www.gov.cn/zhengce/content/2000-11/15/content_2063.htm|url-status=live}}{{cite web|url=http://www.gov.cn/zhengce/content/2010-11/17/content_2092.htm|script-title=zh:国办函(1998)49号:国务院办公厅关于中国人民银行联系中信公司和光大公司意见的复函|date=15 October 1998|access-date=21 October 2016|publisher=General Office of the State Council|language=Chinese|archive-date=22 October 2016|archive-url=https://web.archive.org/web/20161022025250/http://www.gov.cn/zhengce/content/2010-11/17/content_2092.htm|url-status=live}} In 2000, China Securities Regulatory Commission and China Insurance Regulatory Commission were added as the supervisors for the financial businesses, with the Ministry of Finance excising the shareholders rights. State Economic and Trade Commission was also added as the regulator if the business was in the scope of the commission. Lastly, the Chinese Communist Party committee inside the company (the de facto highest board of the company) would report to another supervising minister of the Central Committee of the Chinese Communist Party.{{cite web|url=http://www.gov.cn/zhengce/content/2010-11/12/content_1999.htm|script-title=zh:国办函(2000)74号:国务院办公厅关于中国光大集团国务院办公厅关于中国光大集团管理问题的通知|date=21 October 2000|access-date=21 October 2016|publisher=General Office of the State Council|language=Chinese|archive-date=22 October 2016|archive-url=https://web.archive.org/web/20161022025702/http://www.gov.cn/zhengce/content/2010-11/12/content_1999.htm|url-status=live}} {{Interlanguage link multi|Zhu Xiaohua|zh|3=朱小华}}, the former chairman of the group who was arrested in 1999, was jailed in 2002.{{cite web|url=https://www.nytimes.com/2002/08/16/world/china-prosecutes-a-banker-as-loan-scandals-continue.html|title=China Prosecutes a Banker As Loan Scandals Continue|date=16 August 2002|access-date=21 October 2016|work=The New York Times|archive-date=12 November 2019|archive-url=https://web.archive.org/web/20191112080527/https://www.nytimes.com/2002/08/16/world/china-prosecutes-a-banker-as-loan-scandals-continue.html|url-status=live}}

In 2007 the group was split into financial and non-financial company, the latter was led by China Everbright Industrial (Group) Co., Ltd. ({{zh|s=中国光大实业（集团）有限责任公司}}), which was owned by Central Huijin from 2007 to 2014 (merged back to China Everbright Group).

In 2014, Central Huijin became a major shareholder of Everbright Group by injecting 90 billion shares of Everbright Bank and 100 percent stake of Everbright Industrial back into Everbright Group. The company also re-incorporated as a joint-stock company with limited liabilities (as {{zh|s=中国光大集团股份公司}}).

File:CYTS Plaza (20250413150344).jpg became a subsidiary of China Everbright Group in 2018]]

The company via its wholly owned subsidiary China Everbright Holdings ({{zh|s=中國光大集團有限公司}}), owned 49.74 percent stake of China Everbright Limited and 0.18 percent stake of China Everbright Bank.{{cite web|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2016/0429/LTN201604291958.pdf|title=2015 Annual Report|date=29 April 2016|access-date=17 October 2016|work=China Everbright Bank|publisher=Hong Kong Stock Exchange|archive-date=30 July 2020|archive-url=https://web.archive.org/web/20200730174143/https://www1.hkexnews.hk/listedco/listconews/sehk/2016/0429/ltn201604291958.pdf|url-status=live}} China Everbright Group also owned 29.68% stake of Everbright Securities,{{cite web|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2016/0926/LTN20160926591.pdf|title=2016 Interim Report|date=26 September 2016|access-date=17 October 2016|work=Everbright Securities|publisher=archive of Hong Kong Stock Exchange|archive-date=30 July 2020|archive-url=https://web.archive.org/web/20200730154032/https://www1.hkexnews.hk/listedco/listconews/sehk/2016/0926/ltn20160926591.pdf|url-status=live}} 23.96 per cent stake of China Everbright Bank directly. China Everbright Group also owned 41.39 percent stake in Everbright International and 4.98% stake in Shenwan Hongyuan.

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Category:Government-owned companies of China

Category:Conglomerate companies of China