Incorporated in February 1993, SIAM is established as a joint venture of Shanghai International Trust and Investment Corporation Ltd. and Kwang Hua Asset Management Ltd. (a member of a Taiwanese conglomerate). With the joint forces of both partners, SIAM successfully raised a listed closed-end fund with a total capitalization of USD 96 million in 1993.
The shareholding of SIAM has changed over time. Currently, SIAM is an indirect wholly-owned subsidiary of Shanghai Industrial Investment (Holdings) Company Limited (“SIIC”), which acquired SIAM’s 100% equity interest in 2014 via its wholly-owned underlying subsidiaries. SIAM became a member of the SIIC group, supervised by State-owned Assets Supervision and Administration Commission of Shanghai Municipal Government. SIIC is a solid and long-established business conglomerate having a number of listed corporations within its group and one of Mainland Chinese enterprises with an extensive local representativeness in Hong Kong.
Shanghai Industrial Investment (Holdings) Company Limited (“SIIC”)
Shanghai Industrial Investment (Holdings) Co., Ltd. (short for “SIIC”), registered in Hong Kong in July 1981, a window company of Shanghai Municipal Government in Hong Kong, is wholly owned by State-owned Assets Supervision and Administration Commission of Shanghai Municipal Government at present and authorized to operate SIIC Shanghai (Holdings) Co., Ltd. For near 40 years, SIIC, undertaking dual missions as an overseas large-scale state-owned corporation of Shanghai Municipality and a Chinese-funded enterprise in Hong Kong, has made particular contributions for Shanghai in attracting overseas technology and funds, facilitating urban construction and social development, pushing forward the reform of state-owned asset and enterprise, training international talents, and pushing forward the exchange and cooperation between Shanghai and Hong Kong, and maintaining prosperity and stability of Hong Kong.
SIIC’s primary business concerns five areas, namely pharmaceuticals and healthcare, infrastructure and environmental protection, real estate and regional development, consumer products, financial services and investment as well as new business arena of innovation development. SIIC owns five listed subsidiaries at home and abroad, including Shanghai Industrial Holdings Ltd. (0363.HK), Shanghai Pharmaceuticals Holding Co., Ltd. (601607.SH), SIIC Environment Holdings Ltd. (BHK.SG/0807.HK), Shanghai Industrial Development Co., Ltd. (600748.SH) and Shanghai Industrial Urban Development Group Limited (0563.HK). SIIC has become a comprehensive conglomerate of Shanghai with the largest scale and most powerful strength in overseas and one of Chinese enterprises with the most local representativeness in Hong Kong.