China Orient Asset Management Co., Ltd. (Hereinafter referred to as China Orient) is a state-owned centralfinancialenterprise jointly established by the Ministry of Finance and the National Council for Social Security Fund. Established in October 1999, China Orient was then known as China Orient Asset Management Company and restructured into a limited company in 2016. Since its establishment, China Orient has been endeavoring to ‘safeguard state-owned assets, resolve financial risks and promote the reform of state-owned enterprises,’ and regards the lawful and compliant operation as its lifeline. China Orient has accumulatively managed and disposed nearly 2 trillion yuan of non-performing asset, making a positive contribution to the stability of China's financial system.
2019 marks the 20th anniversary of China Orient. In the face of complex economic and financial situations at home and broad, under the instruction of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, the correct guidance of the Party Committee of China Banking and Insurance Regulatory Commission (CBIRC) and the support of the Ministry of Finance and various shareholding units, China Orient strived to promote transformation, upgrading and innovative development, focused on its core responsibilities and main business, increased business investment and served the real economy in an all-round way. The operation of the Group continues to maintain a steady development rate.
By the end of 2019, China Orient's total assets exceeded1.1 trillion yuan, with 25 branches and 1 business department in key domestic cities, covering a wide range of business, such as asset management, insurance, banking, securities, trust, credit rating and international business. China Orient now owns 12 class I subsidiaries, including China United Insurance Group Company Limited, Bank of Dalian Co., Ltd., Dongxing Securities Co., Ltd., China Orient Asset Management (International) Holding Limited, Bangxin Asset Management Co., Ltd., Shanghai Dongxing Investment Holdings Co., Ltd., China Orient Qianhai Asset Management Co., Ltd., Orient Bangxin Finance Holding Co., Ltd., Golden Credit Rating International Co., Ltd., Daye Trust Co., Ltd., Orient Bangxin Capital Co., Ltd. and Zhejiang Rongda Enterprise Management Co., Ltd., with approximately 60,000 employees across the country and service network covering the whole country.
‘New era of China, new journey of Orient,’ standing at a new historical starting point, China Orient will keep in mind the original aspiration and mission as a central financial enterprise, thoroughly implement the spirit of the 19th CPC National Congress, the second, third and fourth plenary sessions of the 19th CPC National Congress, and the central economic work conference, fully implement the requirements of the central government and the arrangements made by the higher authorities, further return to its core responsibilities and main business, serve economic and social development and supply-side structural reforms, revitalize the stock, resolve risks, and give full play to the role of financial assistance and counter-cycle adjustment; Further improve the quality and efficiency of service to the real economy, starting from the ‘three re-’ (reorganization, reorientation, and reconstruction) model and in coordination with the functions of various sectors of the Group to bring into play the combined effect of various financial instruments and to find a correct development orientation in the tide of national economic construction; further deepen own reform and innovation and strive to turn China Orient into a modern financial enterprise with standardized governance, powerful control, professional service, advanced culture and first-class performance.