.Chapter 120

In order to deal with the huge amount of non-performing assets initially divested by the four major state-owned commercial banks, my country successively established four asset management companies, Huarong, Great Wall, Oriental and Xinda. At that time, the Ministry of Finance provided 100 million yuan of capital to each asset management company, and the four asset management companies respectively purchased bonds ranging from hundreds of billions of yuan to the four major state-owned bank banks in Industrial and Construction to purchase a total of 100 million yuan of non-performing assets.

After two moves, the problem arises. Where did the money from the four major asset management companies come from? Bonds come from, but where did the capital from the four major asset companies come from? The Ministry of Finance allocated funds, and after all, it was the money of the people. Just like it is impossible for someone to make money in the zero-sum game. If the asset price is low, it must be someone who pays the bill. After all, it will still be borne by the people.

Zhang Yan soon learned about the general situation of Great Wall Company's non-performing asset package. The news was announced by President Wang Xingyi at the 5th anniversary celebration of Great Wall Asset Management Company on the morning of October 18. This huge bag contains the remaining non-performing assets with a book value of more than 150 billion yuan. Such an unprecedented whole sale made Zhang Yan puzzled. What does Wang Xingyi mean? Who can have such a big appetite?

After all, the total non-performing assets that the Agricultural Bank of China divested to Great Wall is only 3,458. The Great Wall has dealt with relatively easy assets in recent years. What is left now is definitely not a good bone to chew. If you dare to accept such a big bag, who can accept it!

Zhang Yan has this appetite. In the next few years, the economy will be hot, and the value of these non-performing assets will definitely rise accordingly. It will definitely not be as sluggish as it is now. It depends on the attitude of Great Wall. In fact, Zhang Yan has a way to package the whole. Great Wall Company is originally an asset disposal, and its current practice is a bit like eating the sugar coat on the pills and then spitting it out. What's the point of packing it like this? What's the use if it is done?

Zhang Yan means to look at it. There are not many institutions in China that can solve the problem. It is better to wait until the market is unsuccessful and the price of the land will be negotiated. There are many store stores in the non-performing asset package of the Agricultural Bank, which is fully capable of digesting it for Zhengrong Group.

During the economic development stage, banks still lack bad debt reserves for banks' non-performing loans from the perspective of balance sheet management, and they pursue bank book profits too much. If the bank's losses are covered on the books, the state will pay for the bill, and in the end, all taxpayers will pay for the bill together. Of course, unlike Bank of America, Bank of China is not particularly nervous with the support of the world's highest savings rate.

Due to institutional reasons, the market-oriented methods of disposing of non-performing assets in my country's banks are insufficient, and there is still inefficient efficiency. The disposal links and costs are too high. The actual loss rate remains high. To truly solve the efficiency and reduce losses of disposing of non-performing assets in banks, on the one hand, legislation must keep up, and on the other hand, market-oriented.

Our bank suffered direct economic losses of nearly 200 billion yuan every year due to corporate debt evasion. The practice of disposing of good assets shows that the problem of corporate debt evasion has been repeatedly banned. The difficulty in trial and execution of non-performing assets involved in the case is very prominent, in addition to the serious protectionism of local governments, the main reason is that the current legal provisions are not sound, and there are still situations where laws are not followed, and law enforcement is not strict.

Although the State Council promulgated the "Regulations on Financing Asset Management Companies" more than ten years ago, the Supreme People's Court issued a series of relevant judicial interpretations to initially solve some legal issues in the process of asset acquisition and disposal. However, with the in-depth development of asset disposal business, asset management companies still encounter many legal problems in actual operations. In order to enable banks to effectively dispose of non-performing assets and reduce disposal costs, establish their special legal status through legal procedures as soon as possible to give them more effective means of asset disposal.

It is urgent to improve the environmental credit legislation for disposing of non-performing assets. In the case of large amounts of social credit, good credit should not only be guided and cultivated by personal moral cultivation, but also to be forged with laws. Secondly, improve relevant laws closely related to the disposal of non-performing assets.

The Enterprise Bankruptcy Law, the Procedure Law, the Guarantee Law, etc. are important legal basis in the disposal of non-performing assets. However, in these laws, the status of creditors is correspondingly low. Some companies maliciously engage in bankruptcy fraud and cause bad debts to be large. The purpose of protecting creditors is not reached. The bankruptcy procedure is delayed for a long time. The low efficiency makes the asset management company passively in the process of disposing of non-performing assets, which increases the cost of disposal, and also encourages debt enterprises and local governments to conspire to evade debt places.

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At the beginning of its establishment in 1999, Great Wall Company received 3458 non-performing assets from the Agricultural Bank of China. In the past five years, the original value of the assets has been disposed of has been more than 150 billion yuan and has not been disposed of. Among them, debt assets account for 943%, equity assets account for c6%, and property rights assets account for 51%. These assets are distributed in 28 provinces and cities across the country.

As of the month, Great Wall Company has disposaled a total of 28.5 billion yuan of assets recovered, with an asset recovery rate of 15; of which the cumulative cash recovery rate is the asset disposal expense rate of 1.

According to the previous asset recovery rate, the overall acquisition of this asset requires more than 200 million yuan in cash. This is not only for domestic investment, but also for foreign investment banks. So it is natural that although Great Wall Company vigorously recommended it, no one still bought it in the end, and Great Wall Company had to find another way.

Not long after, another voice came from Great Wall Company, "If the transfer cannot be done at one time, we will take other corresponding measures to complete the asset disposal target. Before the disposal is completed, all local businesses will operate normally, and investments can also negotiate with Great Wall Company for businesses that are of interest - such as business in a region or province."

This is also the situation Zhang Yan expects to see the most. This is also the result of the pressure facing Great Wall Company. At the beginning of the year, the State Council approved that all local debt assets must be settled before the end of the year, leaving only a little more than two years for Great Wall Company. If no measures are taken, Great Wall Company will find it difficult to complete the task. The consequences are quite serious!

In fact, not only the Great Wall, but also the four major amcs are "very urgent", because in the past five years, the four companies have completed less than half of the tasks of disposing of the tasks, and most of the assets disposed of first are "good asset quality". The only difference is that this time, Great Wall went more thoroughly.

A member of Great Wall said that compared with the other three companies, Great Wall's average single asset amount is small, the creditor's enterprises are relatively scattered, and it is difficult to recover. If these assets are "single transactions or disposal by buying small asset packages, the cost is very high; and once the remaining bad debt assets are packaged and transferred in one go, it can not only recover cash in advance, speed up the disposal speed, but also start the pace of commercial transformation as soon as possible.

In Zhang's opinion, this is the act of giving up the initiative!

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Zhengrong Group signed an agreement on Great Wall to purchase the three northeastern provinces in packages and non-performing assets packages, with a total asset amount of RMB 16 billion. As for the price, both parties were secretive, but some clues were seen from the faces of the contract representatives of both parties. Zhengrong Group representatives looked unlucky, while Great Wall Group was full of spirit.

At this time, Zhang Yan was dancing, looking at the asset package list, drooling

"I made it, these are so awesome. I used 10% of the price, but it was 10% of the price five years ago. Hahaha, now, only the asset prices have risen a lot! These real estates are enough for the price of asset packages.
Chapter completed!