Commentary: China’s Economic Pivot Relies on Clearing Non-Performing Assets
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As China advances its 15th Five-Year Plan, the economy is undergoing a sweeping transformation. Yet, challenges persist: insufficient demand and hidden risks in key sectors. To accelerate the shift toward new economic drivers and deepen supply-side structural reforms, China must lean on a critical but often underappreciated lever: the non-performing asset market.
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- China’s economy faces insufficient demand and hidden risks; transforming the non-performing asset (NPA) market is crucial for structural reform.
- The NPA market will address excess capacity, corporate restructuring, real estate risks, municipal debt, and rising household debt problems.
- Reform requires updated legislation, market-driven approaches, and system-focused asset management to build financial resilience and prevent systemic risks.
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Who’s Who
- China Cinda Asset Management Co. Ltd.
- Wang Yang, the chief non-performing asset researcher at China Cinda Asset Management Co. Ltd., contributed to this article. The company plays a crucial role in China's non-performing asset market, which is vital for the nation's economic transformation and risk clearance.
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