China Cinda Asset Management Company was established in Beijing on April 20th with the approval of the State Council. 1999. It is a wholly state-owned financial enterprise with independent legal personality, with a registered capital of 1000 billion yuan. The business scope of China Xinda Asset Management Co., Ltd. includes: acquiring and operating non-performing assets in local and foreign currencies divested by financial institutions; Recover local and foreign currency debts; Assets formed by non-performing loans in local and foreign currencies acquired by lease, transfer or reorganization; Converting local and foreign currency creditor's rights into equity and holding enterprise shares by stages; Listing recommendation and bond and stock underwriting of companies within the scope of asset management; Securitization of non-performing assets approved by relevant departments; Issue financial bonds and borrow money from financial institutions; Other businesses approved by China Banking Regulatory Commission and other regulatory agencies.
China Banking Regulatory Commission is a subordinate department, which actually implements some economic policies at the national level.