China's four major national asset management companies (AMCs) have recently concluded their 2026 Party building and operational management meetings. These entities, which specialize in non-performing asset disposal and risk mitigation, play a strategic role in China's financial system by preventing systemic financial risks, revitalizing stagnant assets, and supporting the real economy's transformation.
At the start of the 15th Five-Year Plan period, the AMCs reviewed their 2025 performance and laid out plans for the coming year. A clear consensus emerged: amid new challenges and tasks, the companies will adhere to a principle of seeking progress while maintaining stability. Their core mission will center on focusing on primary responsibilities, serving national strategies, reinforcing risk boundaries, leveraging technology, and driving high-quality development.
Returning to their fundamental purpose and specializing in core business areas remains essential for the AMCs. Each company emphasized strengthening their central function in non-performing asset resolution and aligning their development with national strategic needs, particularly in serving the "Five Major Areas of Finance."
In consolidating their core advantages, Great Wall Asset Management plans to "precisely expand non-performing asset operations" and "innovate in revitalizing real estate assets by adapting to market and policy changes." Cinda Asset Management highlighted "holding firm to the non-performing asset sector and increasing high-quality primary business deployment." Orient Asset Management committed to "deeply cultivating its core responsibility areas" and fully activating存量 assets. Huarong Asset Management stated it would "consolidate and enhance its core competitiveness in non-performing assets with a progressive mindset," while actively exploring new models for aiding troubled enterprises.
Serving national strategy, particularly through the "Five Major Areas of Finance," is a key mechanism for these companies to support the real economy and promote high-quality growth. Great Wall Asset Management explicitly requires "focusing on the 'Five Major Areas of Finance' to comprehensively improve the quality and efficiency of its main business," supporting industrial transformation and the development of new productive forces. Orient Asset Management proposed to "substantially advance the 'Five Major Areas of Finance'" and fully fulfill its duty to serve national strategies. Huarong Asset Management listed "solidly advancing the 'Five Major Areas of Finance'" as a crucial part of focusing on its core responsibilities.
Additionally, exercising counter-cyclical adjustment and financial rescue functions demonstrates the AMCs' commitment. Cinda Asset Management has strengthened its operational capabilities and support systems, implementing several pioneering projects. Huarong also reported significant results in serving national strategies by deeply participating in risk mitigation within key sectors.
Balancing development with security and effectively preventing and resolving risks remains a perpetual theme in financial work. Facing a complex environment, the four AMCs are prioritizing strengthened risk prevention and ensuring stable operations, aiming to build more robust safety buffers.
Establishing a firm bottom-line mindset is a common requirement. Great Wall Asset Management identified "risk prevention" as one of its annual work priorities. Cinda advocated "strengthening bottom-line thinking and striving to be a model of steady development." Orient emphasized "adhering to bottom-line thinking and building a development foundation through practical work." Huarong demanded "establishing a bottom-line mindset and reinforcing risk defenses," managing development and security with a constant sense of responsibility.
Developing and iterating comprehensive risk management systems is a core measure. Cinda plans to "upgrade its comprehensive risk management system." Orient is deploying efforts to "solidify the 'three lines of defense' in risk control and build a proactive defense system," while enhancing risk identification and management and optimizing new business layouts. Huarong is committed to "improving its comprehensive risk management system to enhance operational resilience." These initiatives aim to achieve full coverage, penetration, and intelligence in risk management.
Integrating risk prevention with a compliance culture is a distinctive strength of the AMCs. All four companies emphasized deepening full and strict Party discipline, using high-standard inspection rectifications, strengthening supervision and discipline enforcement, and curbing undesirable work practices to tighten institutional constraints and regulate power exercise, thereby providing solid disciplinary and conduct guarantees for lawful operations and effective risk control.
To respond to market changes and industry competition, the four AMCs view deepening reform, promoting digital transformation, and strengthening talent development as key drivers for stimulating internal vitality and enhancing core competitiveness.
Reforms in institutional mechanisms are advancing further. Great Wall plans to deepen reforms in personnel, incentives, and management, establishing a clear orientation that rewards competence. Cinda aims to "lead industry transformation" by implementing a financial "core strengthening" project to build a management system more suited to market competition. Orient stressed "breaking through institutional constraints through practical work," continuing to deepen reforms in Party building, organizational personnel, and core business management. Huarong proposed optimizing talent cultivation models and promoting differentiated development among its subsidiaries.
The pace of digital transformation is accelerating. Orient has clearly deployed measures to "accelerate digital and intelligent transformation to enhance development support." Huarong is making "accelerating the 'Digital Huarong' initiative" a key part of its management, aiming to empower business development and risk control. Technological empowerment is profoundly changing the traditional operational models and management logic of AMCs.
Talent development strategies are being vigorously promoted. Cinda stated it is "building a strong cadre of cadres and striving to become a new high ground for talent emergence," optimizing the selection, cultivation, management, and utilization pipeline. Orient adheres to a "talent-strengthens-the-enterprise" approach, "tempering capable personnel through practical work." Huarong emphasized "upholding Party management of cadres," establishing a personnel orientation that values responsibility and实干. Building a professional, high-quality talent team has become an industry consensus.