China's Asset Management Corporations: Their Foundation,Operation And Future Development

As a system innovation in financial institutions, Asset Management Corporation (AMC) is one of the hot issues on finance at present. Mainly consisting of five chapters, this article takes a close look at and conducts a systematic study of AMC on both theoretical and empirical bases. The first chapter analyzes its current situation, causes of formation and various impacts on national economy and finance after the issue of Chinese non-performing banking asset has been brought up. Meanwhile, measures taken to handle the non-performing asset problem in some other countries are summarized and evaluated. Based on the exposition of international practice of the AMC model, the second chapter discusses the positive roles played by the foundation of AMC in both handling the non-performing asset problem and advancing the reform of Chinese state-owned enterprises. And then, the designing route and organization framework of Chinese four AMCs has been analyzed. The third chapter analyzes in a comparative way the operation of Chinese AMCs and presents some tactics of the choice of different measures for different kinds of non-performing assets. In the forth chapter and the fifth, problems and difficulties encountered by Chinese AMCs are summarized. And some policy suggestions are put forward after countermeasure research has been done on those problems and difficulties.