Research On Problems And Countermeasures In The Development Of Local Asset Management Companies

As China's economy continues to be depressed,regional and local unproductive assets are gradually exposed,especially the unprofitable and high-risk assets of local financial companies continue to expand.In order to resolve regional financial risks and stabilize the financial order,in 2012,Local asset management companies in various provinces and cities have been approved by the Ministry of Finance of China and the China Banking Regulatory Commission.With its special advantages,local AMC has competed with the four state-owned AMC,and has gradually become an important channel for the disposal of non-performing assets of local commercial banks.Firstly,this paper briefly combs the concepts of Financial Asset Management Co.,Ltd.and local AMC in China;explains the research background and significance;makes a brief literature review of the existing domestic and foreign literature on the disposal of non-performing assets,development and other related issues of local AMC;and elaborates the research content and ideas of this paper.Then it introduces the development status of local AMC.The main content is to introduce the development history of AMC in our country;and to make a detailed comparative analysis of the four state-owned AMC and local AMC,draw the differential advantages and disadvantages of local AMC development;then introduce the main business scope of local AMC,and gradually loosen the policy of disposal of non-performing assets by the government and regulatory authorities.Then it summarizes the problems existing in the current development of local AMC from three levels: institutional level,business level and industry level.At the institutional level,there are some problems,such as ambiguous management orientation,unclear overall development strategic planning,lack of specialized talents,imperfect internal control system,etc.At the business level,financing is difficult and expensive,and the core business ability is insufficient.At the industry level,there are some problems,such as market competition intensifying transformation and upgrading,lack of supervision and so on.Next,it makes a detailed analysis of the case of AMC's dissolution as a typical case in Jilin Province.Combined with the Enlightenment of case analysis,the corresponding policy recommendations are given for the above problems.Finally,the paper combs the thinking of the whole paper and puts forward the conclusion that it is an effective way to resolve the local non-performing assets by setting up local AMC,and the government and regulatory authorities should support the vigorous development of local AMC.However,due to the problems existing in the organization itself,the impact of the market environment,and the lack of a sound regulatory system at the policy level,there are still many problems to be solved in the future development of local AMC.Hope that with the attention of the national and local governments and the active exploration of local AMC itself,local AMC will embark on a more professional,standardized and modern development path in the future.