Creating the "Guangzhou Model" for Special Asset Management! The Greater Bay Area Special Assets Regular Roadshow Center is launched
2024-08-10
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On August 8, under the guidance of the Financial Office of the Guangzhou Municipal Party Committee, the Greater Bay Area Special Assets Regular Roadshow Center was officially launched. As an open, unified and centralized information disclosure and investment roadshow position, the roadshow center will become a public service infrastructure for the special asset industry, solve the current problem of scattered and asymmetric information in the special asset market, improve market transparency, and optimize the price discovery mechanism.
The so-called special assets refer to assets that are undervalued or need to be quickly liquidated due to special reasons such as economic cycles, policy controls, credit defaults, liquidity discounts, and operational management discounts. They mainly include non-performing assets of commercial banks, non-bank financial institutions (such as securities, insurance, funds, trusts, etc.), inefficient and invalid assets generated by the operation of general industrial and commercial enterprises, and assets of enterprises with operating difficulties or development bottlenecks.
The special asset management industry is also seen as an important channel to resolve financial risks and clear blockages in the real economy. Relevant data show that the current scale of my country's special asset management market has reached the trillion yuan level.
In the national special asset disposal market, Guangzhou, as the core city of the Guangdong-Hong Kong-Macao Greater Bay Area, is one of the most active cities. Since 2023, Guangzhou has taken the lead in exploring the construction of a pilot zone for a unified special asset market. In June this year, the Greater Bay Area Special Asset Empowerment Service Platform was officially unveiled to support Guangzhou in building a new model of special asset management and a world-class restructuring center.
At the launching ceremony, Ge Qun, Party Secretary and Chairman of Guangzhou Trading Group, said that since the launch of the Greater Bay Area Special Asset Empowerment Service Platform in June this year, it has signed cooperation agreements with more than 40 key industry institutions, with 139 service institutions applying for the platform. There are 242 special asset projects entrusted for disposal, with a scale of 58.5 billion yuan, and the market functions have initially emerged.
According to Ge Qun, the regular roadshow center for special assets in the Greater Bay Area launched this time is another important measure for the special capital platform to actively promote Guangzhou to explore new models of special asset management. It will focus on three levels: gathering special investment opportunities, gathering asset activation wisdom, and gathering industry-leading services. It will create regular roadshow brand services and provide the special asset industry ecosystem with more accurate, efficient and transparent asset management and circulation docking positions.
At the first "Special Eyes" roadshow held on the same day, the platform launched five projects, including the Oriental Asset-Guangzhou Yuesheng Trading Co., Ltd. series of debts. The project recommendation officers conducted professional analysis of the value and advantages of each project and proposed ideas for revitalization. The roadshow attracted widespread attention from on-site and online investment institutions, who actively consulted on the details of the intended projects.
It is reported that in addition to the "Special Eyes" series of roadshows, the center will also hold other series of roadshows such as "small but beautiful" business seminars, project analysis meetings, expert diagnosis meetings, etc. from time to time as needed.
Hu Guoqiang, head of the Greater Bay Area Special Asset Empowerment Service Platform, introduced that the Greater Bay Area Special Assets Platform is currently promoting two key tasks: First, with the support of local government departments, a special asset project database is being built to strengthen the unified information disclosure function and establish exclusive project channels. Practitioners are requested to continue to pay attention and actively participate to obtain first-hand project information; second, pilot projects for restructuring and reorganization are being selected. The selected projects will adopt the working mechanism of "government-court linkage and multi-party participation" of the Guangzhou Municipal Working Group for Creating a New Model of Special Asset Management, to promote the resolution of project pain points and difficulties, and practitioners are welcome to actively apply.
It is reported that in the next step, the Greater Bay Area Special Assets Empowerment Service Platform will further strengthen exchanges and cooperation with the government, platforms, project parties, funders, industries, service agencies and other parties, and build the Greater Bay Area Special Assets Regular Roadshow Center into a brand benchmark to promote the innovative development of the special asset management industry. It will explore the establishment of a unified disposal platform with high credibility, standardization, professionalism and marketization, and create a "Guangzhou Model" of special asset management, injecting new impetus into the economic and social development of Guangzhou and even the Greater Bay Area.
Text｜Reporter Chen Zeyun
Figure｜Provided by the interviewee
