China Grain Reserves Corporation, or Sinograin, is a large state-owned key enterprise approved by the State Council. It is concerned with national security and the lifeblood of the economy. Entrusted by the State Council, it is in charge of the operation and management of the central government's grain and edible oil reserves and responsible for regulating and controlling the purchase and sale of grain and oil.
Under the macro-regulation and control of the state, Sinograin practices independent operation and takes full responsibility for its profits and losses. It was founded in 2000 with a registered capital of 47 billion yuan ($7.28 billion).
Headquartered in Beijing, the company has set up 23 subsidiaries nationwide and its employees, branches and business, located in 31 provinces, autonomous regions and municipalities, were directly under the Central Government by the end of 2017. It has six wholly-owned or secondary holding companies and one research institute.
Its subsidiaries are in charge of the grain and oil reserves and national grain depots within their jurisdiction. As third level management units, the depots are legal entities that practice independent accounting and take full responsibility for their profits and losses. Their leadership, finance and state-owned assets are under the administration of Sinograin.
As a major regulator of the grain market in China, the company monitors the country's reserves of grain and oil, a crucial responsibility that concerns people's well-being and the security of the state economy. Sinograin has a key authority in improving national grain reserves, serving the state's macroeconomic regulation and control, maintaining the stability of the grain market, and increasing the value of state-owned assets.