Research On Competitive Strategy Of ZS Asset Management Company

In 1999,in the Asian financial turmoil,the problems of the historical and residual bad debts of the four state-owned commercial banks of China,agriculture,industry and construction were almost impossible to solve.Based on the international experience of the State Council,Cinda,Huarong,Dongfang and Great Wall were established.The four state-owned asset management companies(hereinafter referred to as �the four major AMCs�)are responsible for the acquisition,management and disposal of the divestiture assets of the four major state-owned commercial banks,and the acquisition of 1.4 trillion yuan of non-performing loans of the four major banks.The bank's non-performing loans ratio has made a huge contribution.Since the outbreak of the subprime mortgage crisis in the United States from 2007 to 2008,the four trillion yuan issued by Chinese commercial banks in 2009 formed a large number of bad and bad debts.Since 2012,another non-performing loans crisis has been exposed.At the same time,the risk of local amount institutions has gradually accumulation.Therefore,the state gradually liberalized the conditions for the establishment of local asset management companies,and a large number of local asset management companies(hereinafter referred to as "local AMCs")came into being.Since the establishment of the first China Cinda Asset Management Company in 1999,China's non-performing asset industry has nothing,from small to large,has gradually formed a market-oriented competition pattern of "4+2+N+banking department." "4" refers to the four major AMCs;"2" refers to the Ministry of Finance and the Banking Regulatory Commission jointly allow up to two local AMCs to be established in each province,municipality,and autonomous region(according to the latest regulatory policy,3 provinces have been established in 4 provinces),which is the focus of this article;"N" refers to domestic unlicensed assets The management company mainly participates in the secondary market and the tertiary market.In 2018,the CBRC launched a financial asset investment company in order to promote the market-oriented process of bank debt-to-equity swaps,serve enterprises to reduce leverage,and supply-side reform.Five financial asset investment companies have been established.As of the end of 2018,53 local AMCs have received regulatory approvals.In such a highly competitive environment in the non-performing asset industry,there is not much research on local AMCs.As one of the most active provinces in China's market economy,Zhejiang's financial environment is gradually diversified and complicated.In order to help Zhejiang's local supply-side reform and prevent and mitigate financial risks,ZS Asset Management Corporation was the first batch of 5 The province's first local AMC was established in Hangzhou.For more than 5 years,ZS Asset Management Company has occupied an important market share in Zhejiang Province.The accumulated total amount of non-performing loans and debts has exceeded 180 billion yuan,helping companies to reorganize,manage,transform and upgrade.It is highly recognized by local governments and enterprises.However,at the same time of rapid development,there are also corresponding problems,such as excessive business expansion,unclear strategic positioning,insufficient disposal capacity,lack of a clear and clear performance evaluation system,excessive competition among business teams,and so on.From the perspective of ZS asset management company,this paper analyzes the company's political and legal,economic,social and technical external macro environment by using PEST analysis method,and analyzes the industry environment by using the Porter Five Force Model.It is concluded that the current opportunity is greater than the threat;By analyzing the internal environment of the organizational structure,financial situation,business system,market situation,and human resources of ZS Asset Management Company,it is concluded that the internal advantages outweigh the disadvantages.If the company can seize the opportunity to improve its competitiveness and develop its business,it can Achieve the goal of rapid development.At the same time,the combined competition strategy of ZS asset management company was formulated through SWOT analysis,and the QSPM matrix was used for quantitative analysis.It was concluded that the competitive strategy suitable for ZS asset management company was a differentiated competition strategy.After determining the competition strategy,conduct a detailed analysis of the strategy formulation and implement safeguard measures to ensure that the differentiated competition strategy can provide strong support for ZS Asset Management Corporation's future development path and help ZS Asset Management Corporation in the non-performing asset industry.It can achieve sustainable development and develop into a local asset management company with competitive advantages in a highly competitive market environment.