AMC transforms into a listed bank "White Knight"

In the process of risk disposal in the Chinese financial industry, asset management companies are playing an active role as "white knights" in the equity market of listed banks. Recently, a series of intensive equity changes in listed banks have attracted strong market attention: at the end of July, Everbright Bank disclosed that Citic Financial Assets' shareholding ratio had increased to 8%, while at the same time, the announcement of the H-share of Bank of China showed that Citic Financial Assets' shareholding ratio had increased to 18.02%; at the end of June, China Cinda Asset converted 11.785 billion yuan of Bank of Communications convertible bonds into 912 million A-shares, successfully becoming one of the top ten shareholders of Bank of Communications; China Great Wall Asset strengthened its participation in corporate governance by nominating senior executives as non-executive directors of Minsheng Bank. Behind the cases of AMC's increased holdings of listed bank stocks, it reflects the evolution of the relationship between the Chinese asset management industry and the banking industry: the "bad bank" that was separated from the banking system in the 1990s has gradually transformed into the "white knight" deeply involved in bank capital replenishment, bank governance, and even strategic synergy.