![]() COAMC logo | |
Formerly | China Orient Asset Management Corporation |
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Company type | state-owned enterprise |
Industry | Financial services |
Founded | 1999 |
Headquarters | Beijing , China |
Area served | China |
Services | |
Revenue | ![]() |
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Total assets | ![]() |
Total equity | ![]() |
Owner | |
Parent | Ministry of Finance of China |
Website | coamc.com.cn |
Footnotes /references in a consolidated basis, commercial sector only [1] |
China Orient Asset Management Co., Ltd. | |||||||
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Simplified Chinese | 中国东方资产管理股份有限公司 | ||||||
Traditional Chinese | 中國東方資產管理股份有限公司 | ||||||
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Alternative Chinese name | |||||||
Simplified Chinese | 东方资产 | ||||||
Traditional Chinese | 東方資產 | ||||||
Literal meaning | Orient Asset | ||||||
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China Orient Asset Management Co.,Ltd. is a Chinese distressed asset management company headquartered in Beijing. 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. It is a state-owned enterprise.
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 of 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]
Founded as a bad bank of Bank of China,Orient Asset also received Bank of China's asset management subsidiary Bangxin Asset Management in 2000,which itself was incorporated in 1994 as a subsidiary of BoC Shenzhen branch. [4]
In 2015 the group expanded as a full service financial conglomerate by acquiring the Bank of Dalian. [5]
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