CPMI was established in October 1992, formerly known as China Perfect Machinery Industry Corporation, headquarters located in Shanghai and having the registered capital of $206 million; CPMI is a comprehensive that mainly focusing on the fields of industrial park development, trade, real estate development and etc. After being approved by the State Economic and Trade Commission and the State Administration of Industry and Commerce, CPMI organized a set of large-scale enterprises in Chinese mechanical industry, and founded CPMI through a co-investment program with Chinese commercial banks such as Industrial and Commercial Bank of China, Communications Bank of China etc., . In December, 1993, the former state economic and trade commission, the former state economic restructuring commission and the state administration of industry and commerce approved of China Perfect Machinery Industry Corporation restructured to CPMI in what the biggest shareholder is China National Machinery Industry Corporation that directly under the lead of state-owned Assets Supervision and Administration Commission of the State Council.