COAMC Celebrates Fifteenth Anniversary
On 15 October 2014, China Orient Asset Management Corporation celebrated its fifteenth anniversary. On the same day, a commemorative article, titled "Innovation for Fifteen Years, Restart after Tempering” on the 15th Anniversary of COAMC was published on the corporation's website and highly influential financial newspapers in China like Financial Times and 21st Century Business Herald to celebrate the corporation's fifteenth anniversary.
COAMC was founded on 15 October 1999 following the approval of the State Council of China to effectively resolve financial risks, maintain the stability of financial system and promote the reform and development of state-owned banks and enterprises. Fifteen years later, COAMC now owns and manages insurance, securities, trust, financial leasing and investment bank in Hong Kong and is capable of investment management in various fields and covering all stages of macroeconomic cycle and business lifecycle. Furthermore, the company is now operating at both the domestic and foreign markets providing both domestic and cross-border asset management services. Given synergy between the need for funding of asset management business and the need for capital operation of the insurance business which runs through the whole business chain of asset management, COAMC has decided to take the sustainable two-wheel-driven business model of "Asset Management + Insurance".
In his interview with China's Financial Times, Mr. Zhang Zi'ai, COAMC President, emphasized moderate of growth of the Chinese economy. The growth of household wealth, the promotion of interest rate liberalization, the financial deregulation and the upgrading of economic structure thus provide market opportunities for COAMC to accelerate its market transformation. He reports that the top priority of COAMC is to establish a modern enterprise system through corporate restructuring, improve its framework of "Three Committee and Management Team" and establish a governance mechanism that matches the financial holding of China Orient. China Orient intends to complete its corporate restructuring by June 2015. Furthermore, it will bring in strategic investors at the beginning of 2016 and intends to go public at an appropriate time.