| From the 90s of the last century, bad-loan ratios of China's state-owned commercial banks have been continuously rising, once exceeding 25 percent. If still no action plans were drawn against this problem, it may easily cause serious financial crisis. The Chinese Xinda Financial Management Company is then founded on April 20, 1999 as the first Chinese company mainly dealing with the problems of reducing financial risk.In the past five years from its foundation, by keeping on increasing its operation speed and searching after better methods the company has achieved some staggered success in the dispose of bad assets. The four asset management companies in the country totally took over 1.4 trillion yuan of bad loans at the early times, and till March 2004 they totally disposed 5.2868 trillion yuan of bad assets, reclaimed 1.0548 trillion yuan of cash. The cash-reclaim rate is up to 19.95 percent. However, at the same time, due to the faultiness of the environment and absence of related policies, there still exist some problems in the dispose procedure. The unclearness of development orientation, unsound mechanism, improper dispose methods and etc. also restrained the efficiency of the financial management companies to different extents.With the development of assets disposal, the assets scale and quality are continuously decreasing. What Chinese Financial Assets Management Companies should do in advance and whether the State Department's ten years limit should be executed or not are not only the puzzle of employees but also the main content of financial system innovation. As pointed out in the report of Session of the Sixteenth Central Committee of the Party and the National Economic Conference on October 14, 2003, we should perfect the mechanism of financial assets management company; On February 10, 2004, Prime Minister Wen point out "better the financial assets management company, speed disposing bad assets " at the conference on National Bank, Stock and Insurance; On February 24, 2004, State Department authorized the examine scheme of financial assets management company sent by treasury department to expend the operation area of the company.The above national policies make the Chinese Financial Assets Management Company have a good development condition, but it still have some problems such as organ setting, operation area, function characteristic, execute degree and so on. The thesis analysis the similarities and differences between Chinese and foreign Financial Assets Management Company by it's the historical background to found company, the historical errand, service effect, existence problem. In this thesis, we studied the development direction and tactic elected question by system analysis method, analogy method and demonstration analysis method and drew the following conclusion:1. The existence of the Chinese Financial Assets Management Company is still necessary.2. The Chinese Financial Assets Management Company should make an effective incorporated organ in the evening of handing assets.3. The main operation of the Chinese Financial Assets Management Company is to handle bad assets.4. The Chinese Financial Assets Management Company will have the function of investment bank.5. The Chinese Financial Assets Management Company should have some rights purview. |
