On December 28, China Post Group Corporation Limited (China Post Group Co., Ltd.) is officially established in Beijing.
With the approval of the State Council, China Post Group Company was restructured and renamed as China Post Group Co., Ltd.. Governed by the central government, the restructured Corporation is a wholly State-owned company established in accordance with the Company Law of the People’s Republic of China. With a registered capital of 137.6 billion yuan (about $19.77 billion), it focuses on postal services, express & logistics, finance and e-commerce, and engages in diversified operation as well. The Corporation and its branches at different levels provide universal postal service stipulated by the State and deal with special services such as confidential communications, distribution of newspapers and periodicals required by the State, and free delivery of ordinary letters for conscripts, Braille materials and the remained belongings of revolutionary martyrs, etc. China Post Group Corporation Limited is called China Post for short. It will inherit all the claims and liabilities of the former China Post Group Company, the existing professional or special qualification certificates and licenses, intangible assets, etc.
According to relevant laws and regulation of China, the Corporation doesn’t have a board of shareholders. The Ministry of Finance, in accordance with national laws and administrative regulations, performs the duties of investor on behalf of the State Council. The Corporation has a board of directors and executives to form a corporate governance structure. In accordance with relevant laws, regulations and policies of the State, the Corporation establishes labor, personnel and remuneration management systems that conform to modern corporate system and meet the needs of production and operation, and forms and improves financial and accounting systems. Based on the needs of business development, the Corporation can establish subsidiaries, branches, offices and so on in accordance with the law.
According to the head of this Corporation, China Post will take the opportunity of this reform and restructuring to shoulder its new responsibilities and make new achievements in the new era. China Post Group Co., Ltd. will unswervingly study and implement Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era; keep firmly in mind the need to maintain political integrity, think in big-picture terms, follow the leadership core, and keep in alignment; strengthen the confidence in the path, theory, system, and culture of socialism with Chinese characteristics; resolutely uphold General Secretary Xi Jinping’s core position on the Party Central Committee and in the Party as a whole, and resolutely uphold the Party Central Committee’s authority and its centralized, unified leadership, striving to build China Post into the national team of the postal sector and play an important role in the rejuvenation of the nation. To this end, it will unswervingly deepen postal reform and innovation, modernize the system and capabilities of corporate governance, and properly handle the relationship between reform, development and stability, trying to increase corporate vitality and boost corporate development through reform. It will unswervingly implement the vision of people-centered development, stay true to its mission of serving the people and work conscientiously on providing universal postal service and special services, continually delivering stronger sense of happiness, gain and security to the people. It will unswerving drive the high-quality development of China Post, put quality first and give priority to performance, push forward the in-depth integration of business and technology and make breakthroughs in the transformation of postal finance, delivery and logistics as well as rural e-commerce, trying to achieve a more sustainable development with higher quality and better efficiency. It will unswervingly serve the nation’s major strategies, exerting its important role in the three critical battles and the development of the Xiong’an New Area and the Belt and Road Initiative. It will continually strengthen the fundamental and strategic role of postal service in the development of economy and society, trying to make greater contribution to achieving the Two Centenary Goals and realizing the Chinese Dream of national rejuvenation.