Conditions for applying for a local AMC license

Conditions for applying for a local AMC license The Ministry of Finance and the China Banking Regulatory Commission jointly issued the "Measures for the Administration of Batch Transfers of Non-performing Assets of Financial Enterprises" (Caijin No. [No.] (hereinafter referred to as "Circular No. 6")，Among them, Article 3 expands the number of non-performing asset disposal entities of financial institutions for the first time.，In addition to the traditional four major asset management companies，The concept of local asset management companies (hereinafter referred to as "local AMCs") was also introduced.。The enthusiasm for local AMC licenses continues to heat up this year。

So，Here comes the problem：How can private enterprises participate in this licensed business?

two、 The conditions for applying for a local AMC license are based on Article 3 of "Document No. 6" and the "Notice of the China Banking Regulatory Commission on the Qualification Recognition Conditions and Other Related Issues for Local Asset Management Companies to Carry out the Bulk Acquisition and Disposal of Non-performing Assets of Financial Enterprises"(Banking Regulatory Commission Issue No. 45)(hereinafter referred to as "Notice No. 45")，Local AMCs must meet the following conditions:：

1. Established under the leadership of the provincial government and there is only one； provinces、autonomous region、In principle, the people's government of a municipality directly under the Central Government can only establish or authorize one local asset management company.，Participate in the province (autonomous region)、Batch acquisition of non-performing assets of financial enterprises within the scope of municipalities directly under the Central Government、External business。
2. Registered capital* limit is one billion yuan，and is paid-in capital；
3. Have directors with professional knowledge and business experience、Senior managers and those suitable for bulk acquisition of non-performing assets of financial companies、Professional team handling business；
4. Have sound corporate governance、Complete internal control and risk management system；
5. Good operating performance，*Profitable in the past three fiscal years (except for new establishments)；
6. Good qualifications and credit，No illegal or other bad records in the past three years (except for new establishments)。

three、 The application and review process for local AMC licenses is based on Article 3 of “Notice No. 45”，Local AMCs are established or authorized with the approval of provincial governments，It's still early days，Not much quantity，Therefore, it has not yet become transparent、unified、Standardized application and review process。

Four、 The expansion of local AMCs in recent years，Due to the substantial increase in non-performing loans，The demand for the disposal of non-performing assets also increased immediately，The China Banking Regulatory Commission has expanded the scope of local AMCs twice this year.，Shenzhen is allowed、Dalian、Qingdao、Ningbo and Xiamen, five cities with separate state plans, will each establish a local asset management company.；Allow each province to add a local asset management company。 As of the end of June 2025，There are 23 local asset management companies across the country。

After the above policies are promulgated,，A new local AMC was established。

According to incomplete statistics，The China Banking Regulatory Commission will separately approve Shaanxi Province’s、Qinghai Province、Heilongjiang Province、Zhejiang Province、Five provinces and cities in Shanghai set up second local AMCs，Respectively, Shaanxi Financial Asset Management Co., Ltd.、Huarong Kunlun Qinghai Asset Management Co., Ltd.、Heilongjiang Harvest Longsheng Financial Asset Management Co., Ltd.、Everbright Jinou Asset Management Co., Ltd. and Shanghai Ruiyin Shengjia Asset Management Co., Ltd.。

Counting provincial and prefecture-level AMCs，There are more than 30 local AMCs。 five、 Business restrictions and breakthroughs of local AMCs based on “Document No. 6” and “Notice No. 45”，Local asset management companies can only participate in the provincial、Batch transfer of non-performing assets within the city)，And the non-performing assets it purchased should be disposed of through debt restructuring.，Not transferable。

October this year，The China Banking Regulatory Commission issued a "Letter on Appropriate Adjustments to Relevant Policies for Local Asset Management Companies" to provincial governments (the original text was not found)，Allow non-performing assets acquired by AMC to be transferred externally，And the transferee of the external transfer is not subject to geographical restrictions.。 six、 Private capital participates in local AMCs in the process of local AMC expansion，Private capital also took advantage of the situation to enter。

The above-mentioned Shanghai Ruiyin Shengjia Asset Management Co., Ltd. is jointly funded and established by Shanghai State-owned Assets and Private Capital.。And before that，Hubei Asset Management Co., Ltd.、Ningxia Shunyi Asset Management Co., Ltd. and Jilin Financial Asset Management Co., Ltd. both contain private capital.，Among them, Jilin Financial Asset Management Co., Ltd. was initiated and established by the private enterprise Hongyun Group Co., Ltd.。

2025October 11，Haide Asset Management Co., Ltd. received a letter from the China Banking Regulatory Commission (CBRC Office No. 292: China Banking Regulatory Commission Notice on Publishing the List of Local Asset Management Companies).，Approved to participate in the business of batch transfer of non-performing assets，Became a local AMC of the People's Government of the Tibet Autonomous Region。

Haide Asset Management Co., Ltd. is a listed company Hainan Haide Industrial Co., Ltd. (Haide Co., Ltd.：)’s wholly-owned subsidiary，Its share capital is dispersed，*The majority shareholder is privately owned。

seven、 "Unlicensed" AMC due to strict AMC license restrictions，And the competition for private capital to enter local AMCs is very fierce.，This breeds “unlicensed” AMCs，Its business mainly focuses on the disposal of non-performing assets of non-financial enterprises.，and derivative business of disposal of various non-performing assets，Such as collection、Auction platform, etc.。

at present，There are two main types of “unlicensed” AMCs：

1. Private asset management company Jiuxin Asset Management Co., Ltd. serves as a platform for disposing of non-performing assets under Jiuding Group，That is, looking at non-performing assets in a “broad sense”。at the same time，Non-performing assets for financial companies，Jiuxin Asset adopts a roundabout strategy，Signed a strategic cooperation agreement with Zhejiang AMC Zhejiang Zheshang Asset Management Co., Ltd.，Collaborate on non-performing asset management and other businesses。

Jiuxin Assets announced that，The amount used for the acquisition and disposal of non-performing assets is planned to reach 13 billion yuan。

1. Internet asset management companies: This type of company mainly focuses on non-performing asset derivatives business，It provides products and services for the process of non-performing asset disposal through the use of new technologies，The main modes are as follows：
2. Using big data and cloud computing to integrate credit companies and collection service companies Yuandongtian (Beijing) Asset Management Co., Ltd.，As a collection agency，Its business model is，Connect the entrusting party and the disposing party to match the transaction，Solve the problems of information asymmetry and high communication costs。

in，principal lender，At present, banks are mainly、Mainly consumer finance companies and personal credit institutions；The disposers are financial asset disposal companies across the country.。

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