Ruijing Asset has been approved to pilot the transfer of non-performing loans

Recently, the Jiangxi Provincial Local Financial Supervision and Administration Bureau officially approved Jiangxi Ruijing Financial Asset Management Co., Ltd. (hereinafter referred to as "Ruijing Asset") to participate in the pilot work of non-performing loan transfer. Ruijing Asset was established in January 2018 by Yintai Group in collaboration with several well-known domestic enterprises. Its main business is the bulk acquisition, management, and disposal of non-performing assets of financial enterprises, quasi financial enterprises, and other enterprises in Jiangxi Province. The company was registered with the China Banking and Insurance Regulatory Commission in October 2019, making it the second local asset management company (AMC) in Jiangxi Province and the only one in Ganzhou City to be registered with the China Banking and Insurance Regulatory Commission. Since its establishment, Ruijing Asset Management has always adhered to the business principle of professional value creation and the business philosophy of serving mainstream financial institutions and the real economy. It insists on focusing on the main business of non-performing assets, with the disposal of non-performing assets in Jiangxi Province as the core, and fully utilizes the financial "stabilizer" role of local asset management companies.

This pilot project focuses on the transfer of single household corporate non-performing loans and bulk transfer of personal loans. Ruijing Asset Management will take this opportunity to strengthen the construction of professional business teams and enhance risk control capabilities. At the same time, we will conduct business in accordance with the law and regulations, strictly implement regulatory requirements such as information disclosure and protection, actively explore sustainable models for non-performing loan disposal, prevent local financial risks, and help promote high-quality development of the local economy.