The purpose of establishing Hainan United Asset Management Company

In order to speed up the disposal of the backlog of real estate in Hainan Province and revitalize the financial assets of Hainan's wholly state-owned commercial banks, Hainan Provincial People's Government formally established Hainan United Asset Management Company in July 2003.

The company is a provincial-level wholly state-owned asset management company authorized by the Hainan provincial government, which undertakes and disposes of the backlog of non-performing real estate assets of various financial institutions in Hainan, entrusted management enterprises and financial debt restructuring of state-owned enterprises.