What are the business objectives of financial asset management companies?

Financial asset management company is a wholly state-owned financial institution specializing in the management and disposal of specific non-performing assets stripped from wholly state-owned commercial banks.

For the purpose of preserving assets to the maximum extent and reducing losses, independently bear civil liability according to law.

China's four major financial asset management companies were established in 1999, namely China Huarong Asset Management Company, China Great Wall Asset Management Company, China Oriental Asset Management Company and China Xinda Asset Management Company, and received the non-performing assets divested by China Industrial and Commercial Bank, China Agricultural Bank, China Bank and China Construction Bank.