What are the four state-owned financial asset management companies in China?

The four state-owned financial asset management companies in China are China Huarong Asset Management Company, China Great Wall Asset Management Company, China Cinda Asset Management Company and China Oriental Asset Management Company.

China Cinda Asset Management Company was established in April of 1999, and the other three companies were established in June of 1999+00 respectively. Acquisition, management and disposal of some non-performing assets of four state-owned commercial banks and China Development Bank respectively. Since 2007, the four major financial asset management companies have begun to operate commercially, and are no longer limited to acquiring the non-performing assets of the above banks.

The purpose of establishing a financial asset management company in China;

1. Improve the assets and liabilities of the four wholly state-owned commercial banks and improve their credit levels at home and abroad.

2. Deepen the reform of wholly state-owned commercial banks, strictly assess the banks after the divestiture of non-performing loans, and do not allow the non-performing loan ratio to continue to rise, so that wholly state-owned commercial banks can become truly modern commercial banks.

3. Take advantage of the special legal status and professional advantages of financial asset management companies, and recover the value of non-performing loans to the maximum extent through the establishment of asset recovery responsibility system and professional operation.

4, through the management of financial assets, the implementation of debt-to-equity swaps for qualified enterprises, to support large and medium-sized state-owned loss-making enterprises out of the predicament.

Reference to the above content: Baidu Encyclopedia-Financial Asset Management Company