According to the Charter of the Chinese Academy of Sciences, CASH was authorized with the right to monitor the operation of state-owned assets in enterprises affiliated to CAS institutes since 2004. It is also authorized to manage the CAS Qingdao Sanatorium, the CAS Lushan Sanatorium, and the Science and Technology-promoted Economy Foundation on behalf of CAS. Meanwhile, CASH is responsible for the daily management of the CAS-Legend Institute.
CAS Operative State-owned Asset Management System
Since 2008, CASH participated in Venture Capital and Private Capital (VC/PE) investments as an institutional investor, and actively conducted direct investments centering on China’s strategic emerging industries. It has become a well-managed institutional investor with a relatively long history and strong market influence.
By the end of 2014, the invested capital of CASH was RMB 5.1 billion. CASH now has over 30 subsidiaries, in which 21 companies are fully-owned or controlled by CASH. These companies cover areas of new generation information technology, high-end equipment manufacturing, environmental protection and new materials, investment, and modern services. Well-known companies include Legend Holdings (03396.HK), China Sciences Group, and China Science Publishing Group.