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Reuters, Shanghai, March 16 (Author LIN Qi) - China's economy is structural transformation, gradually increasing pressure on banks dispose of bad assets, but some private equity funds smelled one of the "fragrance." Business has been involved in the disposal of non-performing assets of more than three years in Zhejiang East Financial asset management companies continued annual doubling the scale of business, belong to the East Financial Group East Financial Fund also issued the first to focus on non-performing assets sun private equity funds.

Currently East Financial Asset Management's non-performing assets package to pay for the price of dollars more than 3 billion yuan, and the corresponding amount of debt more than 70 billion yuan, the collateral behind about 120 million. East Financial Capital Partners, East Financial Zhang Wei, general manager of the fund said on Wednesday, in the past three years, the company's non-performing loans under management more than doubled each year, the next two years will not slow down, at least doubling annually.

"Our short-term goal is to manage hundreds of billions of scale to achieve a relative balance of the domestic banking sector non-performing assets of more than 1 trillion yuan, we share is still small." He said in an interview with Reuters in an interview.

According to the China Banking Regulatory Commission data, at the end of last year's fourth quarter non-performing loan ratio of domestic commercial banks to 1.67 percent, up 0.08 percentage points over the previous quarter. Non-performing loans 12,744 billion yuan, 88.1 billion yuan increase over the previous quarter.

East Financial assets are mainly provide assessment and pricing of non-performing assets, collection and disposal services, these bad assets essentially residential, commercial and other real estate. After East Financial Fund to take over the bad assets packages, it will organize local lawyers to initiate judicial proceedings, to recover the funds by the final auction disposal.

East Financial assets non-performing assets target set for individuals and small businesses real estate collateral. According to him, this kind of non-performing assets, one is easily realizable, and secondly, such a small debtors judicial defense problems, resistance from the government and other aspects are also less. 2012 The first business in the small and micro economic development, poor rate slightly higher start Zhejiang, cooperative banks are mainly small and micro business development fast medium-sized joint-stock banks, such as Minsheng Bank (600016.SS) and China Merchants Bank (600036.SS) .

East current business financial assets has been extended to Jiangsu, Zhejiang and other Yangtze River Delta region, partner also more diversified. For example as a provider of non-performing assets, in addition to the above two, and the Agricultural Bank (601288.SS), China Construction Bank (601939.SS), Bank of Communications (601328.SS), Industrial Bank (601166.SS) and Bank of Nanjing (601009.SS), etc; Orient asset management Corporation and other state-owned asset management company (AMC); third-party wealth wealth Chaoyang agency; Jiangsu and Zhejiang over 50 law firms.


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