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NSSF Becomes COAMC’s New Shareholder

On 31 December 2015, COAMC’s Vice-president Li Xin announced at a routine press release of the banking industry that according to the reform scheme approved by the State Council, China Orient Asset Management Co., Ltd. was to be set up by the Ministry of Finance and China Social Security Fund. As of yesterday, the two shareholders had signed the agreement, and finished capital verification. Joint stock reform is in the critical stage now; COAMC will apply for market access with relevant regulatory institutions and will soon finish business registration.

As head of the reform office of COAMC Liang Senlin pointed out, according to State Council’s approval of COAMC’s reform, China Orient Asset Management Co., Ltd. will be set up jointly by the Ministry of Finance and China Social Security Fund. The Ministry of Finance of hold 98% of the shares and China Social Security Fund will hold the remaining 2%.