新形势下地方资产管理公司的转型与业务路径

Transformation and Business Path of Local Asset Management Company to the New Situation

地方资产管理公司设立与发展经历了三个阶段:规则初定行业探索阶段、进入设立的快车道阶段、全面趋严监管体系逐步形成阶段。地方AMC有四个发展中的共性难题。本文提出地方AMC实现转型的具体路径,包括:(1)积极响应监管,聚焦金融不良资产主业;(2)提高政治站位,赋能国家“双碳”战略;(3)服务实体经济,助力企业“去杠杆”;(4)致力重点行业,纾困“半导体”困境企业;(5)关注民生问题,加大“烂尾楼”项目重整业务投入;(6)重视就业问题,市场化参与ST上市公司重整重组;(7)运用智力“手术刀”,开拓“破产管理人”业务;(8)开展前瞻研究,探索“违约债券”收购业务。

The establishment and development of Local Asset Management Company have gone through three stages: the initial determination of rules and the exploration of the industry, the fast track stage of establishment, and the gradual formation of a comprehensive and stricter supervision system. There are four common problems in the development of Local AMC. This paper puts forward the specific path for Local AMC to realize the transformation, including actively responding to the supervision, focusing on the main business of non-performing financial assets, improving the political position, enabling the national "double carbon" strategy, serving the real economy, helping enterprises "deleveraging", committed to key industries, bailing out "semiconductor" troubled enterprises, paying attention to livelihood issues, increasing the business investment in the reorganization of "uncompleted residential flats" projects, and paying attention to employment, market oriented participation in the reorganization of ST listed companies, the use of intelligent "scalpel", the development of "bankruptcy administrator" business, carry out forward-looking research, and explore "defaulted bonds" acquisition business.It can be summarized into eight business directions.