China Cinda Asset Management Co., Ltd(zhong guo xin da zi chan guan li gu fen you xian gong si )

China Cinda Asset Management Corp

China Cinda Asset Management Co., Ltd. is a central financial enterprise.

Established with the approval of the State Council, China Xinda Asset Management Co., Ltd. is a state-owned enterprise with independent legal personality. The business scope of China Cinda Asset Management Company includes: acquisition and operation of domestic and foreign currency non-performing assets stripped by financial institutions; recovery of domestic and foreign currency debts; leasing or other forms of transfer and reorganization of assets formed by domestic and foreign currency non-performing loans acquired; conversion of domestic and foreign currency debt into equity and phased shareholding of enterprises; listing recommendation and bonds of companies within the scope of asset management Stock underwriting; securitization of non-performing assets approved by relevant departments; issuance of financial bonds and borrowing from financial institutions; other businesses approved by China Banking Regulatory Commission and other regulatory bodies.

In July 2020, China Xinda Asset Management Co., Ltd. ranked 105th among Fortune 500 in 2020.

historical background

Since the 1990s, especially after the Asian financial crisis, governments have paid great attention to the problem of non-performing assets of financial institutions. China's state-owned commercial banks are an important part of the financial system and one of the main channels for raising, financing and allocating social funds. They have provided strong support for economic development for a long time. However, before the promulgation of the banking law in 1995, the state-owned banks operated in the mode of professional banks, and the credit business had a strong policy color. In addition, affected by the overheating economy in the early 1990s, and in the process of economic transition, the state-owned banks lacked an effective internal mechanism and a good external environment in controlling the quality of loans, resulting in a certain scale of non-performing loans Loans. In addition, before 1993, the bank had never withdrawn the bad debt reserve and had not written off the loss of bad debt. In this way, non-performing loans continue to accumulate and financial risks gradually breed, which has become a major hidden danger in the economic operation. If it is delayed for a long time, it may endanger the financial order and social stability, and affect China's next development and reform process.

In view of the above situation, on the basis of careful analysis of domestic financial problems and learning from foreign experience and lessons, the Chinese government has decided to set up a financial asset management company to centrally manage and dispose of the non-performing loans acquired from commercial banks, and China Cinda Asset Management Company will pilot it first.

Company profile

In 1999, Dongfang AMC, Xinda AMC, Huarong AMC and Great Wall AMC were established one after another on the basis of the State Council's learning from international experience, with a duration of 10 years. They are respectively responsible for the acquisition, management and disposal of the corresponding non-performing assets stripped by Bank of China, China Construction bank, China Development Bank, industrial and Commercial Bank of China and Agricultural Bank of China. At the beginning of its establishment, except for Xinda's more orderly staff, the other three were temporarily transferred from the corresponding state-owned banks.

The controlling shareholder of happy life is China Xinda Asset Management Co., Ltd. (which has been restructured into China Xinda Asset Management Co., Ltd.). Approved by the State Council, China Xinda Asset Management Company was established in Beijing on April 20, 1999. It is a wholly state-owned financial enterprise with independent legal personality, with a registered capital of 10 billion yuan. The business scope of China Cinda Asset Management Company includes: acquisition and operation of domestic and foreign currency non-performing assets stripped by financial institutions; recovery of domestic and foreign currency debts; leasing or other forms of transfer and reorganization of assets formed by domestic and foreign currency non-performing loans acquired; conversion of domestic and foreign currency debt into equity and phased shareholding of enterprises; listing recommendation and bonds of companies within the scope of asset management Stock underwriting; securitization of non-performing assets approved by relevant departments; issuance of financial bonds and borrowing from financial institutions; other businesses approved by China Banking Regulatory Commission and other regulatory bodies. On June 29, 2010, China Xinda Asset Management Company completed its commercial transformation. Approved by the State Council and initiated exclusively by the Ministry of finance, China Cinda Asset Management Co., Ltd. was established in Beijing on June 29, 2010, with a registered capital of RMB 25155096932 and a non bank financial institution. In 2012, China Cinda Asset Management Co., Ltd. introduced four strategic investors, namely the National Council of social security funds, ubsag, CITIC Capital Financial Holdings Co., Ltd. and Standard Chartered Financial Holdings. The registered capital of the company is 30140024035 yuan, and the four strategic investors hold 16.54% of the company's shares in total. The company is a non bank financial institution. Upon approval, the business scope of China Cinda Asset Management Co., Ltd. is as follows: acquisition, entrusted operation of non-performing assets of financial institutions and non-financial institutions, management, investment and disposal of non-performing assets; creditor's rights into equity, management, investment and disposal of equity assets; bankruptcy management; foreign investment; trading of securities; issuance of financial bonds, interbank lending and borrowing from them Commercial financing by other financial institutions; approved asset securitization business, custody and liquidation business of financial institutions; financial, investment, legal and risk management consulting and consulting; asset and project evaluation; other businesses approved by the banking regulatory authority of the State Council.

Nature of Business

Acquisition and operation of domestic and foreign currency non-performing assets divested by financial institutions;

Recovery of debts in domestic and foreign currencies;

Lease or transfer or restructure the acquired assets formed by non-performing loans in domestic and foreign currencies in other forms;

The creditor's rights in local and foreign currencies shall be converted into equity, and the company shall hold shares in stages;

Listing recommendation and bond and stock underwriting of companies within the scope of asset management;

Non performing assets securitization approved by relevant departments; issuing financial bonds and borrowing from financial institutions;

Financial and legal consultation, asset and project evaluation;

According to the market principle, the commercial acquisition, management and disposal of non-performing assets of domestic financial institutions;

Accepting the entrustment to engage in the closing and clearing business of financial institutions approved by the financial regulatory authorities;

To be entrusted by the Ministry of finance, the people's Bank of China and state-owned banks to manage and dispose of non-performing assets;

Accept the entrustment of other financial institutions and enterprises to manage and dispose of non-performing assets;

Cash capital is used to make necessary investment in the debt paying physical assets of the managed policy and commercial acquisition of non-performing loans;

Other businesses approved by China Banking Regulatory Commission and other regulatory bodies.

China Xinda Asset Management Co., Ltd. has 29 offices in 29 central cities in China. The office is responsible for the disposal and management of assets within its jurisdiction. China Cinda Asset Management Co., Ltd. consists of Cinda Investment Co., Ltd., Cinda Property Insurance Co., Ltd., China Construction International Group Co., Ltd., China Resources Economic Development Co., Ltd., Huida asset custody Co., Ltd., Cinda Aoyin Fund Management Co., Ltd., Cinda Securities Co., Ltd., happy life insurance Co., Ltd., etc.

Memorabilia

After eight years of development, China Cinda Asset Management Company has received non-performing assets from China Construction Bank (601939, Guba) at the beginning of its construction, and has successively received non-performing assets from China Construction Bank, China Development Bank, Bank of China, Bank of Communications (601328, Guba) and industrial and Commercial Bank of China (601398, Guba), At the same time, it also undertakes the asset disposal business entrusted by the Ministry of Finance and China Construction Bank. As of the first half of 2007, the book value of non-performing assets acquired and entrusted by China Cinda Asset Management Company has reached nearly one trillion yuan.

From 1999 to 2001, China Construction Bank and China Development Bank successively acquired 394.6 billion yuan of non-performing loans.

From 2000 to 2004, 112.3 billion yuan of debt assets and debt to equity assets were entrusted by the Ministry of Finance and China Construction Bank.

In June 2004, the Bank of communications purchased 64.1 billion yuan of non-performing loans.

In June 2004, the commercial acquisition of China Construction Bank Non-performing Loans 128.9 billion yuan, Bank of China non-performing loans 149.8 billion yuan.

In June 2005, ICBC purchased 58.1 billion yuan of non-performing loans.

In December 2005, the commercial acquisition of non-performing loans of Bank of Shanghai was 3 billion yuan.

In May 2007, Shenzhen commercial bank acquired 3.5 billion yuan of non-performing loans.

On the evening of May 27, 2020, China Nuclear titanium white and China Cinda signed a comprehensive strategic cooperation agreement. The two sides will cooperate in non-performing assets business, investment business, banking, fund, trust, leasing and other financial services, securities business, channel service and support.

significance

The establishment of financial asset management company is an important measure of China's financial system reform. It is of great significance to deal with the non-performing assets of state-owned commercial banks in accordance with the law, to prevent and resolve financial risks, to promote the state-owned banks to go to battle light, to promote the state-owned enterprises to turn losses out of difficulties and restructuring development, and to realize the strategic restructuring of the state-owned economy.

Company honor

On December 5, 2018, the company won the 8th Hong Kong International Financial Forum and China Securities Golden Bauhinia Award as the listed company with the most brand value.

On July 10, 2019, the fortune China top 500 list was released, and China Cinda Asset Management Co., Ltd. ranked 84th.

On September 1, 2019, the list of top 500 Chinese service enterprises in 2019 was released in Jinan, and China Cinda Asset Management Co., Ltd. ranked 73rd.

On September 1, 2019, the top 500 Chinese enterprises in 2019 were released, and China Cinda Asset Management Co., Ltd. ranked first

Chinese PinYin : Zhong Guo Xin Da Zi Chan Guan Li Gu Fen You Xian Gong Si