The Fourth Plenary Session of the 20th CPC Central Committee has outlined a grand blueprint for socioeconomic development during the 15th Five-Year Plan period (2026–2030), systematically deploying multi-tiered strategies to achieve socialist modernization by 2035. This provides clear direction for national asset management companies (AMCs) to refocus on core mandates and better serve the real economy.
During the 14th Five-Year Plan period, national AMCs actively advanced their primary responsibilities in serving national strategies, continuously enhancing capabilities to support high-quality development. Multiple firms have pledged to strengthen core businesses and implement the "Five Major Financial Tasks" to inject momentum into socioeconomic progress during the 15th Five-Year Plan era.
**Focusing on Core Mandates: Risk Mitigation and Corporate Rescue** The 15th Five-Year Plan proposal emphasizes optimizing financial institutions' specialization and governance. As key players in non-performing asset disposal, national AMCs are sharpening expertise in corporate bailouts, distressed asset resolution, and idle asset revitalization to fulfill their role as financial stabilizers.
A case in point is Zhongli Group, a Jiangsu-based specialty cable and photovoltaic manufacturer. After years of operational struggles due to mounting debts, China Orient Asset Management intervened by acquiring core liabilities, coordinating with stakeholders, and facilitating successful restructuring. The deal shed nearly 10 billion yuan in debt, preserved 2,600 jobs, and introduced industrial investors to refocus operations on PV and cable production.
Liu Jie of China Chengxin International noted that AMCs are increasingly leveraging their professional advantages to revive strategically important but temporarily distressed listed companies through investment banking approaches.
Data underscores AMCs' proactive stance: From 2021 to June 2024, China Cinda acquired over 900 billion yuan in financial NPLs, including exposures from non-bank institutions. Meanwhile, CITIC Financial Asset Management purchased 120+ billion yuan in distressed assets in H1 2024 alone, bolstering financial system stability.
Expanding into retail NPL resolution, CITIC Financial has acquired over 10 billion yuan in individual loan packages since 2021, aiding both systemic risk mitigation and personal credit rehabilitation. The NPL Trading Center's 2024 report confirms accelerated AMC involvement in this sector.
**Empowering the Real Economy for High-Quality Growth** Aligned with China's financial power ambitions, AMCs are amplifying support for sci-tech finance, green finance, inclusive finance, pension finance, and digital finance—key drivers of new productive forces.
Notable interventions include: - China Galaxy Asset's tailored rescue package for a methanol-hydrogen engine manufacturer - China Orient's capital injection into semiconductor unicher Innoscience to ease debt pressure - China Great Wall Asset's "industrial cluster deepening program" supporting aluminum sector enterprises
CITIC Financial has deployed 25+ billion yuan since 2021 into strategic emerging industries like semiconductors, industrial gases, and new energy materials through diverse instruments including debt-to-equity swaps and M&A financing.
China Cinda commits to anchoring support for new productive forces, particularly in tech leadership cultivation and energy transition. The firm plans to deepen sectoral expertise and deploy tailored financial tools to advance future industries while strengthening supply chain resilience in renewables and decarbonization sectors.
China Galaxy Asset emphasizes aligning macroeconomic policies with national strategies, directing resources toward emerging industries while facilitating traditional sector upgrades through value restoration approaches.