China launches new SOE to lead national recycling efforts

China Resource Recycling Group (CRRG), a new state-owned enterprise tasked with building a national platform for resource recycling and reuse, was officially established on October 18 in North China's Tianjin, according to state media Xinhua News Agency.

The new company, with a registered capital of Yuan 10 billion ($1.4 billion), is jointly owned by China's State-owned Assets Supervision and Administration Commission, China Baowu Steel Group, China Petrochemical Corporation, and China Resources, each holding a 20% stake, while the remaining 20% is split between Aluminum Corporation of