China Xinda Asset Management Co., Ltd. was established with the approval of the State Council, with the date of establishment 1999 04 19. It is a wholly state-owned financial enterprise with independent legal personality. The business scope of China Xinda Asset Management Co., Ltd. includes: acquiring non-performing assets in local and foreign currencies divested by operating financial institutions, recovering debts in local and foreign currencies, leasing or transferring or reorganizing assets formed by acquired non-performing loans in local and foreign currencies, converting creditor's rights in local and foreign currencies into shares, and holding shares in enterprises by stages; Listing recommendation of companies within the scope of asset management, underwriting of bonds and stocks, securitization of non-performing assets approved by relevant departments, issuance of financial bonds, borrowing from financial institutions and other businesses approved by regulatory agencies such as CBRC.