OREANDA-NEWS. February 18, 2013. The opening ceremony of TISCO’s Finance Company was held in Garden International Hotel, Taiyuan, reported the press-centre of TISCO.

The guests from CNAFC,Finance Affairs Office of Shanxi Government,Credit Department of Sub-Branch of People’s Bank of China, Shanxi Bureau of CBRC, Shanxi Local Tax Bureau, ICBC, ABC, Shanxi Coking Coal Group and Isoftstone Holding Ltd. took part in the opening ceremony.
   
TISCO’s leaders, Li Xiaobo, Yang Haigui, Gao Xiangming, Liu Fuxing, Han Zhentang, Yang Guilong and persons in charge of departments concerned and the members of Finance Company took part in the ceremony.
   
The ceremony was officiated by Yang Haigui, Secretary of TISCO’s Committee of CPC.
   
Han Zhentang, TISCO’s Chief Accountant and Chairman of TISCO’s Finance Company, briefed the preparation of Finance Company.
   
Qi Shaobin, Secretary of Commission for Discipline Inspection of Shanxi Bureau of CBRC, read the approval document for establishment of TISCO’s Finance Company and issued the Financial License to Zhang Xiaodong, Manager of TISCO’s Finance Company.
   
Li Qingjun, Deputy Secretary-general of CNAFC, and Hao Jianjun, Vice Director of Credit Department of Sub-Branch of People’s Bank of China, gave speeches in the ceremony. They said that the establishment of TISCO’s Finance Company indicates that TISCO stands at a new historical starting point again. The establishment of TISCO’s Finance Company will have profound effects on integration of financial resources, reduction of financing cost, improvement of fund operation efficiency, enhancement of management and control ability and investment and financing ability of TISCO. They wish that TISCO’s Finance Company normatively and honestly operates in accordance with law, optimizes the operating mechanism, perfects the risk prevention and control system, improves the quality of the business personnel, strengthens the construction of IT system, gives full play to its roles and becomes an excellent finance company in China as soon as possible.
   
Gao Xiangming, President of TISCO said in his remarks that TISCO is an enterprise with great ambitions and aspirations. TISCO, after years of efforts, has become the largest stainless steel producer with the most advanced equipment and technology, full product range and specifications and first class product quality in the world. Our goal is to build TISCO into a first-class in China and internationally renowned large enterprise group. The establishment of TISCO’s Finance Company is a strategic measure to strengthen the centralized management and control of funds, speed up the diversified development, realize the combination of industry and finance and improve TISCO’s comprehensive competitiveness. The opening ceremony of the Finance Company is both sign and starting point. He hopes the Finance Company to strengthen management, control the risks strictly and search for excellence, get the guidance and support from authorities concerned and build it into an industry-leading, first-class enterprise finance company in China.
 
Li Xiaobo, Chairman of TISCO, Li Qingjun, Deputy Secretary-general of CNAFC, Jin Hui, Vice Director of Finance Affairs Office of Shanxi Government, and Zhou Wei, President of Shanxi Branch of ICBC, unveiled the plaque for TISCO’s Finance Company.
 
The registered capital of TISCO’s Finance Company is 1 billion yuan RMB, among it, TISCO holds 51% and Taigang Stainless Steel holds 49. TISO’s Finance Company establishes standard corporate governance structure, sets up systematic rules and regulations and business processes. TISCO’s Finance Company will conduct business activities strictly in accordance with the national and industrial policies and regulations.