tang rongsheng manufacturer

The China Rongsheng Heavy Industries (RSHI) Group Holdings is a leading large-scale heavy industry conglomerate with operations covering shipbuilding, marine engineering, power engineering, construction machinery and other related fields. The China RSHI Group was successfully listed on the Main Board of The Stock Exchange of Hong Kong on 19th November 2010.

Liang studied for a Master’s in Corporate Management at Tongji University and undertook a period of work experience at Berlin Technical University. He is Deputy Treasurer at China Rongsheng Heavy Industries Group Holdings.

Rongsheng has a vertically centralised treasury structure. We have two production bases located respectively in Rugao, Nantong and Hefei, Anhui Province. The group headquarters are in Hong Kong and Shanghai, with treasury department composed of seven employees, responsible for FX and interest rate risk management, financing, cash management and bank relationship management.

On January 4, 2022, Rongsheng Environmental Protection and Quanjiao County Government of Anhui Province signed a strategic cooperation framework agreement, planning to invest in the construction of an annual production of 1.3 million tons of recycled environmentally friendly paper and new energy comprehensive utilization projects, with a total investment of about 10.5 billion yuan. The construction content includes an annual output of 1.3 million tons of recycled environmentally friendly paper, biomass heat and power cogeneration (an annual processing of 500,000 tons of straw), photovoltaic product R&D and manufacturing, 1GW distributed photovoltaic power station and other operations and management, and supporting the comprehensive utilization of industrial solid waste resources Projects, environmental protection water treatment projects.

Secretary of the Municipal Party Committee Xu Jiwei, Deputy Secretary of the Municipal Party Committee and Mayor Wu Jin, Director of the Municipal People’s Congress Standing Committee Wang Tuqiang, Member of the Municipal Party Group Liu Maosong and Quanjiao County Party Secretary Yang Guang, Deputy Secretary of the County Party Committee and County Mayor Tang Yu; Zhejiang Rongsheng Environmental Paper Co., Ltd. The chairman and general manager Feng Ronghua of the company attended the signing ceremony and witnessed the signing together.

Feng Ronghua said that standing on a new journey and a new starting point, Rong Sheng came to investigate with his dreams. Chuzhou has a good development trend. Quanjiao is a land full of vigor and great potential for development; Rong Sheng invests with his feelings, Quanjiao With a superior investment environment, the business environment service brand of "Ting Satisfaction and Full Comfort" has strengthened Rongsheng"s confidence in investment and development. This project is settled in Quanjiao, Rongsheng people will be political, keep the original aspiration, adhere to green and low-carbon development; emphasize responsibility, strive to be the first, adhere to digital and intelligent development; emphasize innovation, create brand, adhere to high-level, high-quality development , To contribute to the promotion of local economic development Rongsheng strength! This investment project aims to use the "three wastes" as resources to create green GDP, namely: urban domestic sewage is used as the company"s production water; waste paper is used as the company"s raw material for paper; and waste straw and tree branches are used as central heating energy materials. Rongsheng people have always adhered to the corporate culture of "the soul of the army helps the enterprise, the talents develop the enterprise, and the party builds a strong enterprise", adheres to the people-oriented approach, and contributes to the high-quality development of the enterprise.

Zhejiang Rongsheng Environmental Paper Co., Ltd. was founded in 1980 and successfully logged on the main board of the Shanghai Stock Exchange in 2017. In 2019, China"s listed companies ranked 52 in terms of comprehensive competitiveness. After more than 40 years of development, five major sectors have been formed: ecological papermaking, environmentally friendly thermal power, green packaging, industrial investment, and new energy and new materials. The main products are high-grade kraft linerboard, high-strength corrugated paper, high-density paperboard, e-commerce paperboard, functional carton, electricity, steam, etc. The annual production capacity of ecological paper is 600,000 tons; the annual production of green packaging is 150 million square meters of cardboard. Introduce high-end talents at home and abroad, actively carry out technical cooperation with Zhejiang University, Zhejiang University of Science and Technology, Shaanxi University of Science and Technology, and explore the establishment of a production-university-research system. There are more than 100 authorized patents, and it has successively obtained national-level green factories and Zhejiang Province Advanced unit of platoon work, Zhejiang Industrial Circular Economy Demonstration Enterprise, Zhejiang Papermaking Quality and Credit Double Excellent Enterprise, Top Ten Excellent Enterprise of Jiaxing City Listed Company. The chairman of the company Feng Ronghua is a leading talent in science and technology entrepreneurship under the National "Ten Thousand Talents Plan". He serves as the vice chairman of the fourth council of the Paper Chamber of Commerce of the All-China Federation of Industry and Commerce, the standing director of the China Paper Association, and the standing director of the Zhejiang Paper Association (Society). Star entrepreneurs in Pinghu City, meritorious entrepreneurs in Pinghu City. Editor/Sang Xiaomei

Rows of dilapidated five-story dormitories in the city of Nantong, previously housing China Rongsheng Heavy Industries Group Holdings Ltd.’s 38,000 employees, were abandoned after the shipbuilder teetering on collapse cut almost 80 percent of its workers over the past two years. Most video arcades, restaurants and shops serving them have closed.

Rongsheng, which is seeking a government bailout after accumulating 25 billion yuan ($4.1 billion) in unpaid loans as of June, including to Bank of China Ltd., is a casualty of over- investment gone bust. In Nantong, the only remaining market is selling past-its-shelf-life bread, woolly shoe pads and other dusty items at a discount as shopkeeper Qiu Aibing prepares to wind down before winter. There’s no sign of a single customer.

Rongsheng, whose assets jumped sevenfold between 2007 and 2012 when government-directed lending led to a shipbuilding boom, also has loans outstanding to Export-Import Bank of China and China Development Bank Corp., state-owned policy banks set up to provide financial support at a cheaper cost to companies and industries endorsed by the government. Rongsheng may post a second consecutive loss of 2 billion yuan this year and a 1.1 billion yuan loss in 2014, according to a median estimate of analysts in a Bloomberg survey.

Rongsheng now relies on its remaining 8,000 workers to build the world’s biggest cargo ships for Brazil’s iron-ore producer Vale SA and Oman Shipping Co., as well as smaller vessels and oil tankers. Workers in its shipyards, mostly from other parts of China, and local staff in its Shanghai office have had their salaries delayed, sometimes by two months, a person with knowledge of the matter said.

Rongsheng declined in an e-mail to answer questions about its operations. Spokesmen for ICBC and China Construction Bank Corp. declined to comment on the prospect of rising bad loans, while those at Bank of China, Agricultural Bank of China Ltd. and China Development Bank didn’t respond to requests.

The pain is being experienced by Rongsheng’s peers nationwide. A third of the country’s 1,600 shipyards may shut down within five years amid a global vessel glut, Wang Jinlian, secretary general of the China Association of the National Shipbuilding Industry, said in July.

“The real situation is much worse than the data showed” after talking to chief financial officers at industrial manufacturers, said Wendy Tang, a Shanghai-based analyst at Northeast Securities Co., who estimates the actual nonperforming-loan ratio to be as high as 3 percent. “It will take at least one year or longer for these NPLs to appear on banks’ books, and I haven’t seen the bottom of deterioration in Jiangsu and Zhejiang yet.”

In Nantong, handmade-noodle-shop owner Ma Shuntian said he’s still a believer, even after losing 50,000 yuan this year. Ma and his wife pumped almost 1 million yuan into the restaurant five years ago after selling everything they had in Qinghai province and moving to the area where Rongsheng’s workers reside. In a good year, selling noodles brought in more than 100,000 yuan in profit.

“I hope Rongsheng can come through this crisis and the town comes back to life,” said Ma, a father of three. “If they earn big money, I can earn small.”

Michele Boldrin, J.G. Hoyt Distinguished University Professor at Washington University in St. Louis and Member of the INSE Academic Advisory Council, opened the Macroeconomics Session with a keynote speech themed “Technological Change: Appropriability and Inequality”. Rongsheng Tang, Assistant Professor at Shanghai University of Finance and Economics; Jing Hang, Assistant Professor at Lingnan (University) College of Sun Yat-Sen University; Zhe Fu, Assistant Professor at School of Finance at University of International Business and Economics and Ruiqi Sun, Ph.D. candidate at PBC School of Finance at Tsinghua University presented their research findings respectively. The session concluded with Yong Wang, Associate Professor and Academic Deputy Dean of INSE, who presented an overview on industrial upgrading from NSE perspective.