Research On The Competitive Strategy Of Non-Performing Asset Business Of Changda Asset Management Company

Since 2008,China’s economy has been under great downward pressure,and the scale of non-performing assets has been growing gradually.The non-performing assets industry is just in time.In the face of enormous market opportunities,the competition in the non-performing assets industry is becoming increasingly fierce,and the competition pattern of "4 + 2 + N + banking system" is gradually formed."4" refers to the four major state-owned asset management companies;"2" refers to the establishment of up to two local asset management companies in each province based on the relevant provisions of the Banking and Insurance Regulatory Commission(the latest regulatory policies permit the establishment of three local asset management companies in provinces with real demand,such as Zhejiang),which is the focus of the article;"N" represents the domestic unlicensed asset management companies.It mainly participates in secondary and tertiary markets,purchasing NPAs of licensed asset management companies or single NPAs.In recent years,China’s regulators have encouraged provinces to set up local asset management companies and gradually open their licences in order to support and encourage local asset management companies to do something in the regional non-performing asset market,actively participate in the acquisition and disposal of non-performing assets in provinces,defuse financial risks,stabilize local economy and promote development.As the second local asset management company in Gansu Province,Changchang Asset Management Company has developed its non-performing assets business since its establishment,but at the same time there are corresponding problems,including unclear strategic positioning of non-performing assets business,inadequate ability of non-performing assets business and investment business,lack of perfect incentive system and system,risk control and human resources,etc.Background functional department system and process need to be established and so on.If we can’t find the way out and answer in time,it will threaten the survival and development of the enterprise itself in the near future,and hinder the realization of its strategic mission in the long run.Faced with the complex and changeable internal and external environment,how to make the non-performing assets business of long-term asset management company not only cope with the fierce competition in the market,but also remain invincible in the competition is an important issue of long-term asset management company.Based on the analysis of the external and internal environment of Changda Asset Management Company,this paper finds that the opportunities it faces are greater than threats,and the overall advantages are greater than disadvantages.Enterprises can further expand their development,improve the influence of the industry,"self-cultivation" and enhance their competitiveness.SWOT matrix analysis is used to formulate alternative competition strategy,and QSPM matrix is input for quantitative selection analysis.It is concluded that Changda Asset Management Company should give priority to differentiated competition strategy for implementation.After setting the target of differentiated competition strategy,according to the target decomposition,implement details and implement safeguard control measures,ensure the normal,orderly and effective implementation of differentiated competition strategy,and help the long-term asset management company to develop and grow in the non-performing assets industry.