Pilot transformation
Source: Xinhua |
July 17, 2010, Saturday
|
Print Edition
Print Edition
CHINA Cinda Asset Management Co was inaugurated yesterday, beginning the pilot transformation project of the country's four major asset management companies.
China Cinda Asset Management Co is transformed from China Cinda Asset Management Corp.
China's Ministry of Finance holds 100 percent of the Cinda Asset Management Co's equities, with a total value of 25.1 billion yuan (US$3.7 billion).
Based on the transformation project, the company will expand its main business of managing bad loans while strengthening its business in financial services.
The other three major asset management corporations are Huarong, Great Wall and Orient.
China Cinda Asset Management Co is transformed from China Cinda Asset Management Corp.
China's Ministry of Finance holds 100 percent of the Cinda Asset Management Co's equities, with a total value of 25.1 billion yuan (US$3.7 billion).
Based on the transformation project, the company will expand its main business of managing bad loans while strengthening its business in financial services.
The other three major asset management corporations are Huarong, Great Wall and Orient.
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