Founded in July 2015 and located at Building 1, Courtyard 36, Gucheng Road, Shijingshan District, Shougang Group Finance Co., Ltd. (‘Shougang Finance Company’) was established by an investment of the Shougang Group and Beijing Shougang Construction Investment Co., Ltd. upon approval by the China Banking Regulatory Commission and the non-bank financial institution. It has an initial registration capital of RMB 2 billion which rose by RMB 3 billion at the end of October 2016, reaching registration capital of RMB 5 billion, of which the Shougang Group invested RMB 4 billion, accounting for 80%, and Beijing Shougang Construction Investment Co., Ltd. invested RMB 1 billion, accounting for 20%. 

The Shougang Finance Company is a financial institution with independent corporate status in which independent accounting, independent management and self-financing are implemented. In its administration, the Shougang Finance Company is subordinate to the Shougang Group; in business, it falls under the guidance, supervision and audit of the China Banking Regulatory Commission and People’s Bank of China; furthermore, according to the requirements of financial regulation, the board of shareholders, board of directors and board of supervisors have been set up to carry out the general manager responsibility system under the leadership of the board of directors, while the corporate governance structure and inner control system of ‘three boards and one layer (management layer)’ are established at the same time, in which the three professional boards of risk management, audit check and credit review, and nine the functional departments of the Comprehensive Management Department, Audit Department, Information Department, Settlement Department, Credit Department, Risk Department, Financing Plan Department, Party Work Department and Bill Center are established. The Shougang Finance Company has 38 fixed staff including 1 general manager, 2 deputy general managers, 1 chief financial officer, 1 assistant general manager, 6 department managers and another 27 personnel.

The establishment of the Shougang Finance Company plays an important promoting role in ‘enriching the financial and ecological environment of Shijingshan District, perfecting the financial corporate system structure, strengthening the support strength of the financial industry for the real economy, and improving the overall service ability of the financial market’. At the same time, based on the close cooperation between the original Shougang Group and Shijingshan District, the Shougang Finance Company also plays a crucial role in the revenue enhancement of the District and cross-industry communication of financial enterprises within the District.