Hebei Asset visited China Zhongji Investment, and both sides will further strengthen cooperation.
On September 3, 2019, a delegation from Hebei Provincial Asset Management Co., Ltd. (hereinafter referred to as "Hebei Asset"), including Chairman Man Xiangyu and General Manager of Strategic Planning and Performance Management Department Zhang Zhizheng, visited the Beijing headquarters of China Zhongji Investment. Both sides held friendly talks and conducted in-depth discussions on strengthening cooperation in areas such as non-performing assets and distress funds.
Wen Yuanhua, President and Partner of China Zhongji Investment, welcomed Chairman Man Xiangyu and his delegation, and gave a detailed introduction to the company's strategic positioning and business development. He noted that the current economic development faces new circumstances, with rising non-performing asset ratios in banks and other institutions; new opportunities lie within these crises, and the non-performing asset market has great potential. Both Hebei Asset and China Zhongji Investment are enterprises rooted in Hebei and committed to steady development. China Zhongji Investment has also made many attempts in the area of non-performing assets, and looks forward to in-depth cooperation with Hebei Asset in non-performing asset management and the establishment of distress funds, jointly helping more enterprises to turn crises into opportunities and continue to grow and develop.
Chairman Man Xiangyu of Hebei Asset gave a detailed introduction to Hebei Asset's strategy and business situation. He stated that developing the non-performing asset business plays a significant positive role in resolving regional financial risks and promoting high-quality economic development in Hebei, and expressed hope for further strengthening cooperation between the two sides to achieve mutual benefit through complementary advantages.
Hebei Asset was established in November 2015. It is the first state-owned mixed-ownership local asset management company in the province authorized by the former China Banking Regulatory Commission and approved by the People's Government of Hebei Province, with qualifications for bulk acquisition and disposal of financial non-performing assets.
Zhang Lei, Managing Director and Partner of China Zhongji Investment, and Tan Runzhan, Managing Director and Partner, also attended the meeting.
