China_Orient_Asset_Management
China Orient Asset Management
Strategic state-owned investment and asset-management bank
China Orient Asset Management Co., Ltd. is a Chinese state-owned enterprise. The company is an asset management company and a merchant bank originated as a bad bank for the Bank of China. The bank received shares from debt-to-equity swap of non-performing loans.
The corporation runs in two major business units since 2006, one for general commercial activities (Chinese: 商业化业务), one for the management of the shares that converted from non-performing loans (Chinese: 政策性不良资产处置业务), which was classified as assets under management.[1]
In 2016 the corporation was re-incorporated as a "company limited by shares" (Chinese: 股份有限公司): China Orient Asset Management Co., Ltd. (Chinese: 中国东方资产管理股份有限公司) from China Orient Asset Management Corporation (COAMC, Chinese: 中国东方资产管理公司).[2] the National Social Security Fund and the Ministry of Finance were the shareholders. According to the company's news press, as at 30 June 2016 its net assets stood at CN¥55.6 billion. The former non-performing assets under management were converted to share capital, raising from CN¥10 billion to CN¥55.363 billion.[3]