China Structural Reform Fund (CSRF), is a national-level fund approved by the State Council and commissioned by the State-owned Assets Supervision and Administration Commission (SASAC). It was initiated and established by China Chengtong Holdings Group as the lead sponsor. With a total approved funding limit of 350 billion yuan, the fund is set up in three phases.

CSRF serves as a pivotal instrument for deepening the reform of state-owned assets and enterprises, enhancing the quality and efficiency of SOEs, and facilitating the transformation and upgrading of SOEs. In recent years, it has played a crucial role in supporting the structural adjustment of central SOEs, industrial restructuring and integration, and fostering technological innovation. Moving forward, CSRF will continue to contribute significantly to promoting the high-quality development of central SOEs, advancing industrial restructuring and integration, and nurturing the strategic emerging industries.

The investors of CSRF include nearly 30 central SOEs, local governments, and local SOEs, including comprehensive large central SOEs such as the three major telecommunication operators, important central SOEs in the power and energy sector, and local governments with economic and industrial development vitality.