According to the information of official website of the State Administration for Industry and Commerce, China Huarong is a central financial enterprise, controlled by the Ministry of Finance, and its management and major decisions are directly guided and supervised by the central government. China Huarong plays an important role in maintaining national financial stability, serving the real economy and promoting financial reform, and is one of the representatives of central enterprises in the financial field.
China Huarong Asset Management Co., Ltd. (hereinafter referred to as "China Huarong") was established on 1999. It is one of the four state-owned financial asset management companies established to cope with the Asian financial crisis, resolve financial risks, promote the reform of state-owned banks and extricate state-owned enterprises from difficulties.