COAMC Group Members
COAMC Establishment Meeting Convened in Beijing

On August 30, the establishment meeting of China Orient Asset Management Co., Ltd. (“COAMC”) was held in Beijing. The company was jointly established by the Ministry of Finance and National Council for Social Security Fund, its registered capital being RMB 55.363 billion.

With the deliberation of promoter representatives, the meeting passed COAMC’s articles of association,and rules of procedure by the Shareholders’ Assembly, Board of Directors and Board of Supervisors. The meeting also elected the directors and non-employee supervisors; the Shareholders’ Assembly deliberated on the authorization plan of the Board of Directors. According to relevant state laws and regulations, COAMC has formulated the governance structure of a modern joint stock company, which includes a Shareholders’ Assembly, Board of Directors, Board of Supervisors and corporate management. After establishment, COAMC will continue to thrive in NPL management sector, strive to explore various business models, strengthen its banking and insurance sectors, and overall build a development plan fueled by both asset management and banking & insurance.

China Orient Asset Management Co., Ltd. evolved from China Orient Asset Management Corporation before the joint stock reform. Since its inception in 1999, COAMC has specialized in NPL acquisition, management and disposal, and entrustment of distressed financial institutions. It has shouldered such state missions as disposing bank NPLs, promoting SOE reforms, and dissolving financial risks while maintaining sound economic and social productivity. In recent years, COAMC proactively promotes commercialized transformation, which has yielded remarkable results. Currently, COAMC owns 26 branch companies and business department. And with controlling shares, it owns a line of subsidiaries covering sectors such as banking, insurance, securities, trust, leasing, investment banking (Hong Kong), internet finance, and credit rating, etc.. By the end of June 2016, COAMC Group had consolidated total asset volume of RMB 664.9 billion, net asset 83.5 billion, equities attributable to parent company 55.6 billion, which was 4.56 times of the 10 billion yuan state investment in 1999, when the company was founded.