In 2013, COAMC registered a profit of RMB 10.9 billion, increased by 73% compared with 2012. The profit earned by its 25 branches and the Yunnan Business Department reached RMB 8 billion. The parent company’s share in the subsidiaries’ profit reached RMB 2.9 billion.
The proposal for COAMC’s transformation had been submitted for approval. The transformation is expected to be completed by 2014. Different from other AMCs reform, COAMC will focus on insurance and asset management as its two engines when the transformation is completed.
