Establishment of the China Resources Recycling Group

On 18 October 2024, the China Resources Recycling Group Co., Ltd. (China Zihuan Group) was established in Tianjin. This new central enterprise, with a registered capital of CNY 10 billion, will focus on resource recycling and creating a national platform for resource reuse. The State-owned Assets Supervision and Administration Commission (SASAC) and several major corporations hold stakes in the company. The company will integrate state-owned assets and businesses to enhance the role of the state capital. It aims to become a comprehensive provider of recycling solutions, including storage, processing, distribution, trade-in services, and standard setting.

China Zihuan Group will also set up specialised subsidiaries for various recycling activities, such as scrap steel, electronics, new energy vehicle batteries, and more. The group aims to lead the industry and support small and medium-sized enterprises.

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