China_Cinda_Asset_Management

China Cinda Asset Management

China Cinda Asset Management

State-owned bank

China Cinda Asset Management Co., Ltd. known as China Cinda or just Cinda is a Chinese merchant bank and asset management company. The corporation was founded as a state-owned enterprise and a bad bank for China Construction Bank in 1999. The bank received shares by debt-to-equity swap on non-performing loans. In 2010, the corporation became a "company limited by shares".[2]

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In 2013, part of the shares were started to float on Hong Kong Stock Exchange. In 2015 Cinda acquired Nanyang Commercial Bank from fellow state-controlled financial conglomerate Bank of China (Hong Kong).[3][4]

In January 2024, it was announced that Cinda would be merged with China Orient Asset Management and China Great Wall Asset Management to create China Investment Corp (CIC).[5]

Portfolio companies

References

  1. [1]
    "2015 Annual Report" (PDF). China Cinda. archive of Hong Kong Stock Exchange. 28 April 2016. Retrieved 13 October 2016.
  2. [2]
    "中国东方资产管理股份有限公司成立" [The establishment of China Orient Asset Management Co. Ltd.] (in Chinese). chinanews.com. 30 August 2016. Retrieved 13 October 2016.
  3. [3]
    "BOCHK realises HK$30 billion profit from Nanyang sale". SCMP. 2016-05-30. Retrieved 2019-01-14.
  4. [4]
    "Major Transaction Acquisition of all the Issued Shares of Nanyang Commercial Bank, Limited" (PDF). China Cinda Press Release. 2015-12-18. Retrieved 2019-01-14.
  5. [5]
    "China to merge three major asset managers into China Investment Corp -Xinhua". Reuters. 2024-01-29.
  6. [6]
    "2015 Annual Report" (PDF). Daye Non-Ferrous Metals Mining. 27 April 2016. Retrieved 16 October 2016.
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