Name of Institution

China Huarong Asset Management Co., Ltd.

Country

People's Republic of China (PRC)

Institution at a Glance:

China Huarong Asset Management Co., Ltd. (hereinafter referred to as "China Huarong", stock code: 2799), with its predecessor being China Huarong Asset Management Corporation founded on November 1, 1999, is one of the four state-owned financial asset management companies established in response to the Asian financial crisis and for mitigating financial risks, promoting the reform of state-owned banks and difficulty relief of state-owned enterprises. It was converted into a joint stock limited company on September 28, 2012. On October 30, 2015, China Huarong was listed on the Main Board of the Hong Kong Stock Exchange. On March 2022, China Huarong’s Party Committee was transferred to the Party Committee of CITIC Group Corporation for management. Currently, the shareholders of the Company included the CITIC Group Corporation, MOF, China Insurance Rongxin Private Fund Co., Ltd. and China Life Insurance (Group) Company.

The Company mainly engages in such businesses as distressed asset management, financial services, and asset management and investment business, with distressed asset management being its core business and covering the functions of the four major businesses of “disposal of problematic assets, revitalization of problematic projects, restructuring of problematic enterprises and relief of crisis institutions”. As of the end of 2022, the total assets of China Huarong amounted to RMB955,326 million. Currently, China Huarong has 33 branches with geographic coverage across 30 provinces, autonomous regions and municipalities in mainland China as well as in the Hong Kong and Macau Special Administrative Regions. Its subsidiaries include Huarong Financial Leasing, Huarong Rongde, Huarong Industrial and Huarong International.

Looking forward, China Huarong will serve the real economy, prevent and control financial risks and deepen the reform and transformation to strive to create a new phase of high-quality development based on the state’s function positioning for financial asset management companies, the development task of “implementing national strategies, serving the real economy and mitigating financial risks” and the development prospect of “focusing on the main business of distressed assets and building a first-class financial asset management company”, in compliance with the general idea of “laying a solid foundation, seeking progress while maintaining stability and improving quality and efficiency”, and the focus on “One Year-Three Year-Five Year” strategic objectives.

Member Since: 2013

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Key Officer

Mr. Liu Zhengjun
Secretary of the CPC China Huarong Committee, Chairman, Executive Director

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Contact Us

China Huarong Asset Management Co., Ltd. (China Huarong)
Address: No. 8 Financial Street, Xicheng District, Beijing, 100033, PRC
Telephone: +86-10- 59618888
Fax: +86-10-59618000
Website: http://www.chamc.com.cn