Introduction of the Businesses of
Shide Group in the Financial Sector
Group began to enter the financial sector in 2000. It has
become either a minority shareholder or a controlling
shareholder of Sino Life Insurance Co. Ltd., China Pacific
Insurance (Group) Co. Ltd., INVESCO Great Wall Fund Management
Co., Ltd., Dalian City Commercial Bank and Pacific Finance
Sino Life Insurance Co., Ltd.
was approved to be set up in 2000 as one of the specialized
insurance companies in China. Shide is one of the founders and
is one of the largest shareholders. Headquartered in Pudong of
Shanghai, Sino Life is cooperating with Tokyo Marine Fire
Insurance Co Ltd. of Japan for building up a nationwide sales
China Pacific Insurance
(Group) Co. Ltd. is an insurance group originated from the
China Pacific Insurance Company founded in April 1991. It was
re-organized into a group of specialized operating companies
according to the statutory requirements for separation of
property insurance and life insurance businesses. Its
subsidiaries include China Pacific Property Insurance Co.
Ltd., China Pacific Life Insurance Co. Ltd., Pacific Aetna
Life Insurance Co. Ltd., China Pacific (H.K.) Co., Ltd. and
overseas organizations in London, New York and other places.
The registered capital of the Group is RMBĘD4.3 billion. In
2003 Shide acquired 10% shares of China Pacific Insurance and
became one of the largest shareholders.
INVESCO Great Wall Fund Management Company Limited is
a Sino-foreign joint-venture by Shide Group, INVESCO Asset
Management Co., Ltd., Great Wall Securities and Kailuan Group.
Headquartered in Hong Kong and being a fully owned subsidiary
of INVESCO Group, INVESCO Asset Management Co. Ltd. manages an
asset portfolio of about USD15 billion. INVESCO Group is one
of the largest independent asset management corporations in
the world. The group is listed in London Stock Exchange, New
York Stock Exchange, Paris Stock Exchange, Frankfurt Stock
Exchange and Toronto Stock Exchange. By June 2002, the total
assets managed by the group reached USD364 billion. INVESCO
Group has become one of the largest fund management
corporations in Asia in these years.
Dalian City Commercial Bank is
a joint-stock bank. It has been developing fast in Dalian,
with businesses of deposit and loan, credit cards and other
general banking services. In 2001 and 2002, Shide Group made
two separate acquisitions of the shares of the bank and became
the largest single shareholder.
In early 2003, Shide Group,
along with five companies including China Pacific Insurance,
set up the Pacific Finance Institute aiming at training
high-quality professionals for the finance, insurance, fund
management and securities sectors in China.