It was reported that an integration signing ceremony was held between Chenzhou Public Bus Company and Chenzhou Communications Development & Construction Company on January 29, 2016. The latter one was merged into first mentioned one. This merger is one of the significant measures for Chenzhou city’s deepening reform of the state-owned enterprises to accelerate the integrative recombination and promote the development of mixed ownership economy.

Chenzhou Public Bus Company is one of the state-owned public welfare companies, which is mainly in charge of the public transportation of Chenzhou urban area, including public buses, automobile maintenance, public bus ads, car rental, and etc. The key businesses for Chenzhou Communications Development & Construction Company are comprehensive performance testing of automobiles, taxies, dangerous goods vans, passenger vehicles, and etc. Chenzhou State-owned Assets Supervision and Administration Commission transferred its 100% stock rights on Chenzhou Communications Development & Construction Company to Chenzhou Public Bus Company freely, which indicated that Chenzhou Communications Development & Construction Company became a wholly-owned subsidiary of Chenzhou Public Bus Company. The commission still holds all the stock rights of Chenzhou Public Bus Company. The integrative combination of the two companies well met the general requirements of the deepening reform of the state-owned companies and was helpful for promoting the comprehensive integrative combination of Chenzhou municipal enterprises. Once the resources integrated, it can further upgrade the service quality of public buses, extend the business radius of enterprises, and enhance the hematopoietic function of public welfare enterprises.