Financial Asset Management Companies Vulnerable Office Reforming Time Strategic Research

China financial asset management companies have already set up six years,and its offices in various places make their own contribution for local economic development. However, as the process of the bad assets disposal and the bad assets of ICBC& Construction Bank off two lines, offices bad assets resource balance polarization more obvious, and some less than two years of the disposition of assets. Along with the four major asset management companies are market-oriented restructuring, some offices that have smaller resource balance made a significant contribution to the country ,but they had to face their own fate, or withdrawn, or mergers, or in support of the Corporation to find better chances of survival, or dying, or self-reliance and successful restructuring strategies.How to use their limited advantages, to overcome disadvantages, and to develop long-term development planning through the implementation of a competitive advantage in vulnerable situations is very important. This theme is the study of the strategic restructuring of the vulnerable offices that is belong to assets management companies. Through the analysis of the external general environment ,industry environment ,and the internal conditions for the vulnerable offices , such as the use of Barney VRIO framework and SWOT theory we can find that it faced superior, inferior , external opportunities and threats. It can be concluded that vulnerable offices strategic restructuring from the strategic direction and implementation of several important issues related to the restructuring. One is the disposal of bad assets ,the second way is the development of some investment banking bargain within the scope that is permissible by the offices,the third way is the establishment of the non-performing assets trading market.At the same time, this paper on the two core issues of core competitiveness and industry-oriented made a discussion,and it can be seen that the industry-oriented :bad assets disposal business-oriented,both investemnet banking functions and non-performing transactions market functions.core competitiveness: the disposal of bad assets, business transactions of bad assets ,and equity capital operation.