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Asset Management In China - An Industry Analysis

Product Type: Market Research Report
Published by: Access Asia
Published: March 2004
Product Code: R231-231
Description
This updated report on the development of the AM market in China is a primer covering the early and ongoing developments in the sector. China initially had four financial AMCs, each paired with one of the main commercial banks.
Table of Contents


CHINA CONTACT



CONTENTS



INTRODUCTION

Definitions & Report Coverage

Glossary

Other Access Asia Reports of Possible Interest:

Executive Summary



1 MARKET BACKGROUND

1.1 Fast Facts

1.2 RMB Exchange Rates

1.2.1 Exchange Rates: China

Table 1.1 AVERAGE ANNUAL EXCHANGE RATES, 1997-2003

1.2.2 Exchange Rates: Hong Kong

Table 1.2 AVERAGE ANNUAL EXCHANGE RATES, 1997-2003

1.3 The Regions of China

Map 1.1 CHINA: PROVINCES AND MUNICIPALITIES

1.4 China’s GDP

Table 1.3 GDP AND COST OF LIVING INDEX, 1997-2003



2 THE DEVELOPMENT OF ASSET MANAGEMENT IN CHINA

2.1 Background to China’s AMC Market

Table 2.1 TOTAL LOANS OUTSTANDING IN CHINA, 2000-2003

Table 2.2 CHINA’S AMCs - DISPOSAL & RECOVERY OF NPLs/ASSETS,

Table 2.3 CHINA’S AMCs - DISPOSAL & RECOVERY OF NPLs/ASSETS,

2.2 Scope of Operation for AMCs in China

2.3 Debt-Equity Swaps in China

2.4 Institutional Links Between State Banks and AMCs

2.5 Initial Asset Management Business

2.6 Ongoing Asset Management Business

Table 2.4 CHINESE GOVERNMENT DEBT, END-2002

2.7 Problems Facing the AMCs

2.7.1 Problems Facing the AMCs: Restrictions on Foreign Investment

2.7.2 Problems Facing the AMCs: Independent Funding

2.7.3 Problems Facing the AMCs: New Ways to Handle Bad Debt

2.8 Asset Management and the PBoC

Table 2.5 GOVERNMENT DEBT IN CHINA AS A PERCENTAGE OF GDP,

22

2.9 Financial Sector Reform

2.10 The Current State of China’s SOEs

Table 2.6 INDUSTRIAL VALUE ADDED IN CHINA BY ENTERPRISE

TYPE, 2003*

Table 2.7 LOSS-MAKING FIRMS ON CHINA’S STOCKMARKETS,

Table 2.8 REAL GROWTH IN FIXED ASSET INVESTMENT IN CHINA,

24

Table 2.9 NEW LOAN GROWTH IN CHINA, 2000-2003

Table 2.10 NEW LOANS SHARE OF GDP IN CHINA, 2002-2003

2.11 Foreign Participation in China’s Asset Management Sector

2.12 Factors Influencing Market Growth

2.12.1 Factors Influencing Market Growth: Overview

2.12.2 Factors Influencing Market Growth: Foreign Investment

2.12.3 Factors Influencing Market Growth: Consumer Lending

Table 2.11 CONSUMER LOANS - SHARE OF NEW LOANS IN CHINA,



3 ASSET MANAGEMENT COMPANY PROFILES

3.1 China Huarong Asset Management Corporation

3.1.1 China Huarong: Company Details

3.1.2 China Huarong: Company Background

3.1.3 China Huarong: Current Operations

3.1.4 China Huarong: Future Strategy

3.2 China Great Wall Asset Management Company

3.2.1 China Great Wall: Company Details

3.2.2 China Great Wall: Company Background

3.2.3 China Great Wall: Current Operations

3.2.4 China Great Wall: Future Strategy

3.3 China Xinda Asset Management Company (Cinda)

3.3.1 China Xinda: Company Details

3.3.2 China Xinda: Company Background

3.3.3 China Xinda: Current Operations

3.3.4 China Xinda: Future Strategy

3.4 Dongfang Asset Management Company (Oriental)

3.4.1 Dongfang: Contact Details

3.4.2 Dongfang: Company Background

3.4.3 Dongfang: Current Operations

3.4.4 Dongfang: Future Strategy

3.5 Guangdong Guangye Asset Management Company

3.5.1 Guangdong Guangye: Company Details

3.5.2 Guangdong Guangye: Company Background

3.6 Initial Foreign Involvement



4 CONTACTS

4.1 Trade Organisations







4.1.1 The China Banking Industry Association

4.1.2 The Guangdong Bank Association

4.2 Government Departments

4.2.1 Ministry of Finance

4.2.2 China Insurance Regulatory Committee (CIRC)

4.2.3 State Economic & Trade Commission

4.2.4 China Securities Regulatory Commission (CSRC)



5 APPENDIX - REGULATIONS ON FINANCIAL ASSET-MANAGEMENT

COMPANIES

Chapter I: General Provisions

Article 1

Article 2

Article 3

Article 4

Chapter II: Company Establishment and Business Scope

Article 5

Article 6

Article 7

Article 8

Article 9

Article 10

Chapter III: Scope, Amount and Capital Source for Purchasing Bad Loans

Article 11

Article 12

Article 13

Article 14

Article 15

Chapter IV: Debt-equity Swap

Article 16

Article 17

Article 18

Article 19

Article 20

Article 21

Article 22

Article 23

Chapter V: Company Operation and Management

Article 24

Article 25

Article 26

Article 27

Article 28

Article 29

Article 30

Chapter VI: Termination and Liquidation

Article 31

Article 32

Chapter VII: Supplementary Provisions

Article 33

Article 34
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