China Orient Asset Management Reinvents Self

(Beijing) – China Orient Asset Management Co. Ltd., one of the country's four large state-owned asset management companies, has changed its corporate structure in preparation for an initial public offering at an undisclosed time.

Created and controlled by China's Ministry of Finance in 1999 to sell bad assets that banks had accumulated over the years, China Orient Asset Management is being transformed into a stock corporation by the ministry and the National Council for Social Security Fund with 55.4 billion yuan (US$ 8.30 billion) in registered capital.