SUBSIDIARIES

In accordance with the reform of the China's investment and finance system, China Gaoxin puts government's investing goal into effect via stock management to ensure the maintenance and increment of the value of policy fund. After being appointed as a state investor, basing its own resources and past experiences, China Gaoxin set up its management model which is suitable for the healthy and rapid development of enterprises, and carried out the basic strategy, i.e., stock management is the method and industrial management is the foundation.

By the end of 2005,China Gaoxin had owned 20 holding subsidiaries and 56 joint stock subsidiary companies. As the shareholder who has control power of those companies China Gaoxin can achieve the assets owner’s investment objection through the Meetings Of Shareholders and Board Of Directors, supervise the management of the state-owned capital through the supervisory committee. It also gives expression to the requirement of the modern enterprise system that production and ownership should be clear, right and responsibility should be departed and scientific management. At the same time, using limited capital resources China Gaoxin can act as a state-owned corporation which can lead and control the development of social capital to be in keeping with the need of nation's economy and industry.

China Gaoxin has made a lot of progresses on integrating the assets and tapping potentials of industrial when keeping the steady development of its existing advantage industry. China Gaoxin has almost established its three main industries including high-tech industry investment, special investment on light industry and textile export products and capital management. These three main industries have created better circumstances for China Gaoxin to raise fund, diversify investment risk and speed up the development of the enterprise.
　

Wholly-owned subsidiaries, holding subsidiaries

高新开创投资公司
Gaoxin Kaichuang Investment Corp.
高新投资发展有限公司
Gaoxin Investment Development Co., Ltd.
高通投资开发有限公司
Gaotong Investment & Development Co., Ltd.
高新集团创业投资有限公司
Gaoxin Group Venture Capital Co., Ltd.
北京高新物业管理有限责任公司
Beijing Gaoxin Property Management Co., Ltd.
高新国际贸易有限公司
Gaoxin International trade Co., Ltd.
高新投资集团（香港）有限公司
Gaoxin Investment Group(HK) Ltd.
甘肃高新纺织有限公司
Gansu Gaoxin Textile Co., Ltd
山东高新置业有限公司
Shandong Gaoxin Property Co., Ltd
重庆龙桥河旅游景区开发有限责任公司
Chongqing Longqiaohe Travel sites Development Co., Ltd
高新张铜股份有限公司
Gaoxin Zhangtong limited-liability Company
广东高新凯特精密机械有限公司
Guangdong Gaoxin Kaite Precision Machinery Co., Ltd
宁波保税区高新货柜有限公司
Ningbo FTZ Gaoxin Container Co., Ltd
宁波保税区高新现代物流有限公司
Ningbo FTZ Gaoxin Modern Logistics Co., Ltd
湖南惠同新材料股份有限公司
Hunan Huitong New Material Corporation
湖南湘瓷科艺股份有限公司
Hunan Xiang Ceramics Science & Art Corporation
重庆天地名胜景区旅游开发有限责任公司
Chongqing Tiandi Travel Sites Development Co., Ltd
上海中鑫实业公司
Shanghai Zhongxin Industry Co., Ltd
广东南海华裕实业公司
Guangdong Nanhai Huayu Industry Co., Ltd

　

Joint stock companies

上海里奥纤维企业发展有限公司
Shanghai Lyocell Fibre Research & Development Co., Ltd.
上海爱比视眼镜有限公司
Shanghai Ai Bi Shi Glass Co., Ltd.
上海银华餐具有限公司
Shanghai Yinhua Tableware Co., Ltd.
广东佛山冠丰塑胶有限公司
Guangdong Foshan Guanfeng Plastic Rubber Co., Ltd.
深圳华文印染技术有限公司
Shenzhen Huawen Printing And Dyeing Technical Co., Ltd.
中国深圳国际合作（集团）股份有限公司
China Shenzhen International Cooperation ( Group ) Co., Ltd.
广东银河摩托车实业有限公司
Guangdong Yinhe Motorcycle Industry Co., Ltd.
陕西超群生物芯片股份有限公司
Shanxi Chaoqun Biochip Corporation
西安大鹏生物科技股份有限公司
Xi’an Dapeng Biological Technology Corporation
陕西神果药业有限责任公司
Shaanxi Shenguo Pharmaceutical Co., Ltd.
陕西西格玛消防科技股份有限公司
Shaanxi Sigma Fire-fighting Science & technology Corporation
宁夏环星磁业有限责任公司
Ningxia Huangxing Magnetism Industry Co., Ltd.
成都力斯特制药股份有限公司
Chengdu List Pharmaceutical Co., Ltd.
四川得阳科技股份有限公司
Sichuan Deyang Science & Technology Corporation
宜宾丝丽雅股份有限公司
Yibin Grace Co., Ltd.
大连凯飞化学股份有限公司
Dalian Chemphy Chemical Co., Ltd.
通辽市通科种业有限责任公司
Tongliao Tongke Seed Co., Ltd.
延吉恒利科贸食品有限公司
Yanji Hengli Scie-tech Trade Foods Co., Ltd.
福建省三明市辉煌机械厂
Fujian Sanming Huihuan Machinery Plant
内蒙古福瑞制药有限责任公司
Inner Mongolia Free Pharmaceutical Co., Ltd.
黑龙江省双鸭山圣中药材资源开发有限公司
Heilongjiang Shuangyashan Shengzhong Pharmaceutical Development Co., Ltd.
哈尔滨市同一堂药业有限公司
Harbin Tongyitang Pharmaceutical Co., Ltd.
黑龙江嘉峰绿色食品有限公司
Heilongjiang Jiafeng Health Food Co., Ltd.
浙江春晖复合材料有限责任公司
Zhejiang Chunhui Composite Material Co., Ltd.
浙江万向纳德股份有限公司
Zhejiang Wanxiang Nard Co., Ltd.
绍兴县亚美生物化工有限公司
Shaoxing Yamei Biochemistry Co., Ltd.
浙江义乌宏业公司
Zhejiang Yiwu Hongye Copany
湖南洞庭药业股份有限公司
Hunan Dongting Pharmaceutical Co., Ltd.
湖南洞庭白杨林纸业有限公司
Hunan Dongting Aspen Forest Paper Industry Co., Ltd.
湘西亿事达实业发展有限公司
Xiangxi Yishida Industry Development Co., Ltd.
长沙中圆科技有限公司
Changsha Zhongyuan Science & Technology Co., Ltd.
青海省海南稀土硅铁合金有限公司
Qinghai Hainan rare earth & ferro-silicon alloy Co., Ltd.
青海铬盐高新科技股份有限公司
Qinghai Chromate Hing-tech Co., Ltd.
齐鲁化纤集团有限责任公司
Qilu Chemical Fiber Group Co., Ltd.
山东寻山水产集团有限公司
Shandong Xunshan Aquatic Product Group Co., Ltd.
山东伦博发光材料股份有限公司
Shandong Lunbo Luminous Product Co., Ltd.
烟台首钢磁性材料股份有限公司
Yantai Shougang Magnet Co., Ltd.
湖北省鹤峰县八峰高技术有限公司
Hubei Hefeng Bafeng High Technology Co., Ltd.
重庆赛诺生物医药研究所
Chongqing Sino Biological and Medical institute
甘肃定西扶正药业科技股份有限公司
Gansu Dingxi Fuzheng Pharmaceutical Scie-tech Co., Ltd.
新疆富纶高新材料股份有限公司
Xinjiang Fulun High-Tech Materials Co., Ltd.