The "Suggestions of the CPC Central Committee on Formulating the 15th Five-Year Plan for National Economic and Social Development," adopted at the Fourth Plenary Session of the 20th CPC Central Committee, clearly put forward the guiding principles for economic and social development during the 15th Five-Year Plan period, pointing out the direction and providing scientific guidance for the work of economic and social development in the next five years.
As a financial asset management company that functions as a "cleaner" of the financial system and a "booster" for the real economy, how can China Great Wall Asset Management Co., Ltd. (hereinafter referred to as "China Great Wall Asset") thoroughly study and implement the spirit of the Fourth Plenary Session of the 20th CPC Central Committee, give full play to the unique functions of a financial asset management company, and serve the high-quality economic and social development during the "15th Five-Year Plan" period? Recently, a reporter from the Financial Times conducted an exclusive interview with Xiang Dang, Secretary of the Party Committee of China Great Wall Asset, on this issue.
Financial Times reporter: How can financial asset management companies, whose main business is the management of non-performing assets, implement the spirit of the Fourth Plenary Session of the 20th CPC Central Committee, leverage their unique functional advantages, prevent and resolve risks, and serve the real economy?
To the Party: China Great Wall Asset Management has thoroughly implemented the spirit of the Fourth Plenary Session of the 20th CPC Central Committee, accelerated the company's reform and development, and demonstrated new responsibilities and new achievements in building a strong financial nation.
We have a deep understanding of the key points and requirements of the "15th Five-Year Plan" recommendations and have enhanced our political awareness of serving China's modernization. The "15th Five-Year Plan" period is a crucial period for laying a solid foundation and making comprehensive efforts to basically achieve socialist modernization. It requires consolidating and expanding advantages, breaking through bottlenecks and constraints, and addressing weaknesses and shortcomings. This assessment accurately depicts the characteristics of my country's current stage of development and provides a guide for the transformation and development of financial asset management companies. China Great Wall Asset Management insists on strengthening top-level design from a strategic perspective, deepening its understanding and grasp of national strategies, and comprehensively enhancing its ability to serve the overall national development.
Uphold the Party's overall leadership and firmly grasp the political direction. Always adhere to the centralized and unified leadership of the Party Central Committee over financial work, continuously improve the core role of the Party's leadership in corporate governance, and ensure that China Great Wall Asset Management's development strategy, business layout, and operation and management always maintain a high degree of consistency with the decisions and plans of the Party Central Committee, so as to achieve its own high-quality development in serving the high-quality development of the economy and society.
Upholding the principle of putting people first and practicing finance for the people. Actively participating in the risk resolution of small and medium-sized financial institutions to effectively safeguard the property security of the people. Stabilizing employment through various means such as debt restructuring, asset revitalization, and providing relief to real economy enterprises.
Adhering to high-quality development and focusing on core responsibilities and main businesses, we deeply grasp the requirements of high-quality development, closely follow the strategic orientation of optimizing incremental growth and revitalizing existing assets, and deeply integrate serving national strategies with the core responsibilities and main businesses of China Great Wall Asset Management. On the one hand, we promote the continuous optimization of business models and operating philosophies to achieve an operating ecosystem characterized by compliant and safe operations, scientifically configured structures, professional disposal, and efficient collaboration, as well as data-driven scientific decision-making. We comprehensively enhance our asset value discovery and restructuring capabilities, and solidify the foundation of our core business of "non-performing asset disposal + distressed enterprise relief." On the other hand, we adhere to innovation-driven development, deepen our layout around the core areas of national strategies, give full play to the company's counter-cyclical adjustment function and its professional advantages in asset revitalization, incremental investment, and consulting, proactively serve risk mitigation in three major areas, and solidly carry out the "five major tasks" in finance.
Financial Times reporter: What are the key business plans of China Great Wall Asset Management in serving national strategies in the future?
To the Party: China Great Wall Asset Management closely integrates its own development strategic goals and key tasks, identifies the key points for serving national strategies, and clarifies its development path for the next five years.
First, we contribute to the construction of a modern industrial system and strengthen financial support for technological innovation and the transformation and upgrading of new-quality productivity. China Great Wall Asset Management actively participates in the upgrading of traditional industries and the cultivation and development of strategic emerging industries. In its corporate relief business, we focus on key areas such as integrated circuits, biomanufacturing, and new energy, using investment banking methods such as mergers and acquisitions + bankruptcy reorganization to help companies overcome difficulties and serve industrial transformation and upgrading. We conduct counter-cyclical equity investments in accordance with laws and regulations, actively supporting the transformation and development of new-quality productivity and the real economy through methods such as revitalizing existing assets and market-oriented debt-to-equity swaps. We strengthen the innovation capabilities of our core products, focusing on the business directions supported by the "Guiding Opinions on Promoting the High-Quality Development of Financial Asset Management Companies and Improving Regulatory Efficiency" issued by the State Financial Supervision and Administration Bureau, accelerating the construction of a new financial product system to provide financial support for the development and growth of real enterprises.
Second, it facilitates the smooth operation of the domestic economic cycle by focusing on revitalizing existing assets and removing market bottlenecks. China Great Wall Asset Management actively participates in the divestiture of non-core businesses by real economy enterprises and the revitalization of inefficient existing assets, promoting asset circulation and facilitating the market-based allocation of factors of production. Implementing the "Urban Renewal" initiative, it actively revitalizes distressed real estate projects, serving the overall goals of "ensuring property delivery, protecting people's livelihoods, and maintaining stability." By introducing resources such as construction management and industrial operation, it promotes the transformation of "distressed assets" into effective supply. In terms of asset-light businesses, it focuses on consulting and entrusted disposal opportunities related to non-performing assets, providing customized asset revitalization solutions for local governments and state-owned enterprises to improve investment efficiency. In recent years, China Great Wall Asset Management has successfully handled several typical cases of real estate distress relief and risk mitigation, such as Jinke Properties, Chongqing Rongchuang Bay, and Tianjin Tiantuo, forming a number of replicable and scalable experience models.
Third, we actively participate in the reform and risk mitigation of small and medium-sized financial institutions, strengthening the financial security defense line. China Great Wall Asset Management has deeply participated in the risk mitigation work of small and medium-sized financial institutions through diversified models such as "head-to-head" asset package acquisitions. In the past three years, it has acquired over RMB 220 billion in non-performing loans, effectively cutting off the transmission chain of regional financial risks and making a positive contribution to maintaining financial stability. In the future, China Great Wall Asset Management will continue to participate in the reform and risk mitigation of small and medium-sized financial institutions, fulfilling its role as a financial "stabilizer."
Financial Times reporter: What measures will China Great Wall Asset Management take to deepen institutional and mechanism reforms and consolidate its development foundation?
To the Party: China Great Wall Asset Management will uphold integrity and innovation, deepen the reform of its management system and mechanisms, and ensure that reform and development always move in the right direction.
On the one hand, we will improve the modern governance system and enhance corporate governance efficiency; on the other hand, we will comprehensively enhance our professional capabilities to serve the overall development and security. Through our core business of non-performing assets, we will promptly cut off the risk transmission chain, integrate financial and industrial resources, and utilize various means such as debt-to-equity swaps, asset restructuring, and equity investment to improve our risk disposal capabilities. We will continuously optimize our market expansion strategies, strengthen our ability to accurately connect with key industries and regional development, flexibly utilize diversified financial instruments to meet the differentiated needs of different market entities, and ensure the safety and sustainability of our services to the real economy through full-process risk management of projects.
At the same time, we will build a comprehensive risk management and control system to solidify the bottom line for development security. We will strengthen comprehensive risk management and control, and clarify a gradual implementation path. We will strengthen the construction of the institutional system, promote the simultaneous abolition, amendment, and establishment of existing regulations, and internalize external regulations to build a complete, scientific, standardized, and effective institutional system.
Furthermore, we will strengthen team building and solidify the foundation for talent development. Adhering to the principle of "strengthening the company through talent," we have formulated a systematic plan for cadre and talent development and established a regular mechanism for special research on cadres. We are committed to building a four-pronged corporate culture system: political culture as the soul, financial culture as the foundation, integrity culture as the core, and collaborative culture as the driving force, thereby consolidating our development synergy.
It is important to emphasize that China Great Wall Asset Management is strengthening its technological capabilities to drive digital transformation. With the vision of "Digital and Intelligent Great Wall," it is implementing an "AI+ Empowering Core Business" development strategy, focusing on promoting the intelligent transformation of valuation and pricing, business review, and risk management. It is leveraging technologies such as large-scale models and data platforms to enhance its asset value discovery capabilities and the scientific nature of decision-making, making technology a true engine for risk identification, value mining, and efficiency improvement.
