Against the backdrop of economic structural transformation and supply-side structural reform in recent years, China’s liquidity remains high while economic growth slows down, and the size of non-performing assets is constantly expanding. The epidemic this year has further accelerated the collective exposure of non-performing assets. Now China’s non-performing assets have entered the “stock era” and the stage of rapid development, with an continuous increase of market supply and an expansion of participants. In such a new era with both new opportunities and new challenges, the industry players are trying to reach a consensus and build a new era ecosystem for the NPA industry.
The First Qianxia Lake Asset Management Forum & the Fourth China AMC Development 50 Discussion were successfully unfolded from November 21 to November 22. The Forum was jointly sponsored by the Qingtian County People’s Government, the Council of Qianxia Lake Asset Management Forum and the Council of China AMC Development 50 Forum. About 160 industry figures, including officials, experts and heads of known institutions of non-performing assets, were invited to the Forum. They shared their new ideas and methods on “how to use science and technology to enhance the capability of asset management reorganization, reorganization and reconstruction, and promote the steady development of the economy under the new development pattern” of the NPA industry. As a member unit of the Council of China AMC Development 50 Forum, DongJu United Capital was also invited to this Forum and honored to be elected as the vice president of the Council of Qianxia Lake Asset Management Forum .
At the Forum the grand inauguration ceremony of Qianxia Lake Asset Management Forum was held. Deputy Chief Zhu Xiuxiong of Qingtian County read the establishment document of Qianxia Lake Asset Management Forum; Mei Xingbao, former president of China Orient Asset Management Co., Ltd. and President of the Council of China AMC Development 50 Forum, and Zhou Heping, secretary of CPC Qingtian County Committee, unveiled the nameplate. The Preparatory Meeting of Members of Qianxia Lake Asset Management Forum was immediately held and the Articles of Association of the Council of Qianxia Lake Asset Management Forum were passed. Upon the deliberation and approval of the Preparatory Meeting of Members, DongJu United Capital was elected the vice president unit of the First Council. Further honored with the Special Contribution Award of the Asset Management Industry, DongJu United Capital was invited to be a strategic partner of the Councils of China AMC Development 50 Forum and Qianxia Lake Asset Management Forum.
Approved by the Qingtian County People’s Government, Qianxia Lake Asset Management Forum is voluntarily composed of government agencies, financial asset management companies, local asset management companies, overseas financial institutions, international cooperation organizations, famous intermediaries, entrepreneurs, asset management service providers, financial experts, financial theory scholars and news media professionals, and senior asset managers. It was initiated at the theme salon of China AMC Development 50 Forum and Opening-up of the AMC Industry held in Qingtian County this June. The participants of about 70 AMC across China, including DongJu United Capital, unanimously proposed the establishment of Qianxia Lake Asset Management Forum and signed the Initiative of Establishing Qianxia Lake Asset Management Forum.
The Forum will serve as a more practical regular exchange platform under the China AMC Development 50 Forum and take on the duty of serving the development of the real economy and defusing financial risks. It aims to unite the elite forces in the industry, provide a realistic bridge for facilitating the exchange and cooperation and guiding the development of the industry, grow into the most influential and dynamic source of experience exchange and thoughts in the industry, and contribute more wisdom and strength to the sound and sustainable development of China’s NPA industry.
China AMC Development 50 Forum is one of the most influential non-government communication platforms in the AMC industry in China. Hosting multiple highly professional and influential forum activities since its establishment, China AMC Development 50 Forum has been critically acclaimed by the industry. The establishment of Qianxia Lake Asset Management Forum has further expanded the industrial influence of China AMC Development 50 Forum.
Moreover, Qianxia Lake Asset Management Forum is held in Qingtian County of Zhejiang Province, a famous hometown of overseas Chinese in China. It not only helps give play to the strength of Qingtian as a famous hometown of overseas Chinese and provide abundant information resources and connections for China’s AMC to “go global”, but also draws domestic and international resources to Qingtian and profoundly benefit the promotion of local economic development, the improvement of local asset allocation capability, and the preservation and appreciation of the value of overseas Chinese assets.