China Paper Investment Co., Ltd. (hereinafter referred to“China Paper”), formerly known as China Materials Development and Investment Corporation, was established in 1988 and is a wholly-owned subsidiary of China Chengtong Holdings Group Ltd. (Hereinafter referred to “China Chengtong”).

China Chengtong is a state-owned capital operating company designated by the State-owned Assets Supervision and Administration Commission of the State Council. It is committed to highlighting value creation, deepening reform and innovation, and accelerating the construction and development of a state-owned capital operating company with higher quality.