What is the "Banking Department +4+2" model?

Under the change of policy and market environment, the non-performing asset market, which was originally dominated by the four state-owned asset management companies (AMC), gradually decomposed into a diversified pattern of "4+2+N+ banking system". Among them, 4 represents 4 AMCs, namely China Oriental Asset Management Corporation (corresponding to receiving the non-performing assets of China Bank), China Xinda Asset Management Corporation (corresponding to receiving the non-performing assets of China Construction Bank and China Development Bank), China Huarong Asset Management Corporation (corresponding to receiving the non-performing assets of China Industrial and Commercial Bank) and China Great Wall Asset Management Corporation (corresponding to receiving the non-performing assets of China Agricultural Bank); "2" means that according to the current policy of CBRC, each province can set up at most two local AMCs. "N" means the unlicensed asset management company and the local AMC banking department approved by the provincial government, and refers to the debt-to-equity swap franchise established by CBRC.