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Study On Theories And Practice Of Financial Asset Management Corporations

Posted on:2004-05-13Degree:MasterType:Thesis
Country:ChinaCandidate:Q S ZhangFull Text:PDF
GTID:2156360122460042Subject:Industrial Economics
Abstract/Summary:PDF Full Text Request
The problem of non-performing assets has caused great attention. The increase of their quantity is the hidden trouble of economy. How to resolve them to keep healthy, consistent and fast economic development is an important theme in the intersection of the century. The occurrence of Southeast Asian financial crisis, which was brought about by the accumulation of non-performing assets, rang alarm bells to China.In order to dispose of the non-performing loan (NPL), the Chinese government set up one after another four state-owned asset management corporations (AMCs) in 1999, which are Cinda, Great Wall. Orient, and Huarong. After several years" development, the four AMCs have got great achievement, but they still have some problems. This writer stresses on analyzing the necessity and rationality of setting up AMCs to handle non-performing loans by using professional method. At the same time, this article also tries to find out the restrictive factors and hazards which AMCs will be confronted with and finally tries to design an effective way of operation for AMCs.There are four parts in this thesis.The first part expresses the realistic background and principal theories of Asset Management Corporation.The second part introduces the operation process of Asset Management Corporation in west countries, and. to set up AMCs to solve the problem of non-perfuming loans is worldwide popular. AMCs in many countries such as RTC in U.S.A, AMC in Sweden and in Korea achieved remarkable success. This article also draws some conclusion which can give us some reference in running our country's AMCs after making a compare to these three countries AMCs experience.The third and the fourth part analyses some problems in China Asset Management Corporation and presents several proposals for regulate AMCs in Chinawould meet with more restrictive factors in the future, the most extrusive ones are the following: property rights of state-owned enterprises are not specified; people usually think that the sense of credit is indifferent; capital market id underdeveloped; intermediary agencies lack of experiences; AMCs action of managing bad loans lack of legal support; the amount of bad assets is very large and types are special. Its is necessary to do some work which can help AMCs to run successfully, such as to strive for policy support and cooperation of all circles, to standardize the evaluation institutions, to consummate legal guarantee, to exploit intermediary agencies, to set up trademark, so as to create a favorable exterior circumstance for AMCs' managing action.
Keywords/Search Tags:Asset Management Corporation, Non-performing Loan
PDF Full Text Request
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