近日，银行业信贷资产登记流转中心（以下简称"银登中心"）发布2025年一季度不良贷款转让业务统计 数据。 其中，个人消费贷款占比已经实现连续两个季度上升。2024年三季度、四季度，占比分别为41.9%、 66%。 中国人民银行数据显示，2024年四季度末，不含个人住房贷款的消费性贷款余额达21.01万亿元，同比 增长6.2%，全年增加1.24万亿元。从2024年年报数据来看，多家大行的消费贷金额与不良率占比同比上 升。 具体来看，个人经营贷、个人消费贷和信用卡透支不良资产的平均折扣率分别为6.8%、3.8%和4.4%， 较2024年四季度分别下降0.9个、0.3个和0.6个百分点。 对此，彭城分析认为，最近两个季度个贷不良业务成交价格不断下滑，一方面体现出市场价格正在回归 理性，另一方面，也不能排除由于出让方在机构类型、信贷产品、资产特征等方面的结构变化原因，比 如消金金融公司大规模出包，而消金资产与股份行资产在价格上存在一定差异。 地方AMC"垄断"格局被打破 从受让方情况来看，一直以来，地方AMC都是批量个人业务绝对主力，不过这一格局正在被打破。 2025年一季度，批量个人业务成交规模370.4亿元，成交 ...

新华财经北京4月18日电（记者张斯文）国家金融监督管理总局近期印发了《关于促进金融资产管理公 司高质量发展提升监管质效的指导意见》。《指导意见》从总体要求、完善公司治理、坚守主责主业、 强化风险防控、提升监管质效等方面，提出促进金融资产管理公司高质量发展的十六条意见措施。 业内认为，作为防范化解金融风险的重要"压舱石"，金融资产管理公司肩负着不良资产收购、处置和风 险隔离的重要职责。《指导意见》的出台，具有很强的系统性、指导性和针对性，是我国金融监管法治 化、专业化迈出的重要一步，对金融资产管理公司行业转型升级、防控系统性金融风险及服务实体经济 都有着巨大推动作用。 回归主责主业专注于不良资产收购处置 《指导意见》提出，金融资产管理公司要聚焦发挥特色功能，加快培育核心竞争力，做强做优不良资产 收购处置业务，服务化解中小金融机构、房地产等领域风险，促进实体经济健康发展。要持续加强风险 管理和内控机制建设，强化存量风险资产处置，严控增量业务风险，加强资产负债和流动性管理，推进 瘦身健体。 业内人士指出，此次文件再次明确金融资产管理公司要回归主责主业，专注于不良资产的收购和处置， 尤其强调要为化解中小金融机构、房地 ...

强化金融支持。中国信达江苏分公司聚焦江苏"1650"产业体系，充分发挥有别于传统金融机构的独特作 用，加大对专精特新企业、先进制造业、战略性新兴产业、传统产业转型升级的金融服务力度。2023年 以来，在半导体、生物医药、新能源等领域新增投资27亿元，以实际行动做好金融五篇大文章，助力培 育新质生产力。 中国信达江苏分公司深入践行金融工作的政治性、人民性，为中国式现代化江苏新实践注入金融力量。 中国信达江苏分公司坚守功能定位，创新金融服务模式，助力江苏传统产业改造升级和战略性新兴产业 发展。 培育专业能力。中国信达江苏分公司将提升专业能力作为履行好职责使命的关键之举，充分发挥组织作 用，成立7个跨部门的敏捷团队，加强对江苏区域优势产业、重点行业的研究，加快成果输出，形成以 行业研究能力提升驱动专业能力提升、以专业能力提升赋能不良资产主业投行化转型升级的工作格局。 构建客户图谱。中国信达江苏分公司把客户生态圈建设作为基础性工作抓实抓细，细致梳理江苏区域 600余家上市公司、800余家专精特新企业名单，加强走访开拓，精准对接需求，逐步构建覆盖上下游的 客户生态图谱，当好"问题解决者、资源整合者和价值创造者"。 中国 ...

26年风雨洗礼，金融资产管理公司（AMC）见证了中国金融体系的变迁，从成立之初处置国有银行不良资产，助力国企改革，到如今多元探索、创新业务 模式的稳健前行，AMC走向成熟。4月11日，国家金融监督管理总局印发《关于促进金融资产管理公司高质量发展提升监管质效的指导意见》（以下简称 《指导意见》），提出促进AMC高质量发展的十六条意见措施，明确拓展咨询顾问、受托处置资产、破产管理人等中间业务，探索发展轻资产业务经营模 式，在新"路线图"下，AMC又将如何续写新篇？ 聚焦主业严守风险底线 1999年，财政部出资400亿元成立中国华融（已更名为中信金融资产）、中国信达、长城资产、东方资产，主要采用打折收购、打包处置、打官司追偿模 式，用以剥离、处置国有银行不良资产。2012年《金融企业不良资产批量转让管理办法》首次明确各省级人民政府可设立或授权一家资产管理或经营公司。 此后，监管再度发布政策允许地方AMC扩容。地方AMC逐步登上历史舞台，并迎来快速发展的黄金时期。 为在市场中占据更大份额，部分AMC不再满足于传统的不良资产处置业务，而是涉足房地产开发、股权投资、多元化金融服务等多个领域，但盲目扩张也 埋下风险隐患，2 ...

《意见》从总体要求、完善公司治理、坚守主责主业、强化风险防控、提升监管质效等方面，提出促进 金融资产管理公司高质量发展的16条具体措施。 在促进化解金融和实体经济风险方面，《意见》要求金融资产管理公司（AMC）做强做优不良资产收 购处置业务，服务化解中小金融机构、房地产等领域风险。 《意见》提出，在风险可控、商业可持续前提下，积极加大商业银行、非银行金融机构不良资产收购、 管理和处置力度，服务地方中小金融机构改革化险。 这也是近年来金融资产管理公司做强不良主业的一个具体方面。以四大全国性AMC为例，中国信达 2024年收购中小银行不良资产规模超1400亿元，占其当年新增收购银行不良资产规模的比重超60%；中 国东方近五年通过创新模式，收购中小金融机构不良资产近4000亿元；中信金融资产近三年累计收购中 小银行不良债权近1500亿元。 金融监管总局：AMC做强做优不良资产业务，服务化解中小金融机构等领域风险。 4月11日，金融监管总局发布《关于促进金融资产管理公司高质量发展提升监管质效的指导意见》。 《意见》还要求AMC发挥风险化解和资产处置专长，促进实体经济健康发展。 具体来看，《意见》提出，聚焦问题企业有效 ...

Core Viewpoint - The Financial Regulatory Administration has issued guidelines to enhance the quality of financial asset management companies (AMCs) and improve regulatory effectiveness, focusing on the resolution of risks in small and medium-sized financial institutions and other sectors [1][3]. Group 1: Guidelines for AMC Development - The guidelines propose 16 specific measures to promote high-quality development of AMCs, emphasizing the importance of strengthening the acquisition and disposal of non-performing assets [1]. - AMCs are encouraged to increase their efforts in acquiring, managing, and disposing of non-performing assets from commercial banks and non-bank financial institutions, particularly to assist local small and medium-sized financial institutions [1]. Group 2: Risk Management and Control - AMCs are required to enhance risk management and internal control mechanisms, focusing on the disposal of existing risk assets while controlling new business risks [2]. - The guidelines stress the importance of asset-liability and liquidity management, promoting a leaner operational structure for AMCs [2]. Group 3: Support for the Real Economy - AMCs are tasked with addressing the financial needs of troubled enterprises through various financial instruments, aiming to optimize their asset-liability structures and restore operational capabilities [2]. - The guidelines specify that AMCs should not provide support to enterprises that contradict national policy directions or lack viable restructuring potential [2]. Group 4: Regulatory Enhancements - The implementation of the guidelines is expected to guide AMCs in focusing on their core responsibilities, enhancing risk prevention, and promoting high-quality development [3]. - The guidelines call for the strengthening of regulatory frameworks, particularly in key areas, to prevent the accumulation of hidden local government debts and to enhance oversight of related transactions [2].

若顶格减持8232.1万股，按照4月3日收盘价每股7.82元估算，则这些股份对应的市值约6.44亿元。 前四次减持计划共减持1.17亿股 这是中国信达第五次提出减持方正证券的计划。 历史溯源来看，中国信达持有方正证券股权是以股抵债而来。根据2020年8月6日方正证券发布的简式权 益变动报告书，中国信达为方正东亚·政泉控股信托贷款单一资金信托，以及方正东亚·政泉控股资产收 益权投资单一资金信托（一期、二期）这三个信托计划的受益人，信托计划的底层资产为国通信托对政 泉控股的不良债权。 因政泉控股未能如期还款，国通信托作为受托人向武汉仲裁委员会提起仲裁。大连中院出具执行裁定 书，将政泉控股持有的7.1亿股方正证券股票用于抵偿国通信托对政泉控股享有的民事债权，作为信托 计划的受益人，中国信达获得了该部分抵债资产。 每经记者 王砚丹 每经编辑 赵云 4月6日晚间，方正证券发布公告称，中国信达资产管理股份有限公司因经营需要，计划自公告发布之日 起15个交易日后的3个月内，即2025年4月29日至2025年7月28日期间，以集中竞价方式减持股份不超过 8232.1万股，约占公司总股本的1%。 在第二轮减持中，中国信达共计减 ...

Core Viewpoint - China Cinda has announced another plan to reduce its stake in Founder Securities, marking the fifth such announcement since it became a shareholder in 2021, with previous plans not executed to the maximum extent [2][5][6]. Group 1: Shareholding and Reduction Plans - On April 6, China Cinda announced its intention to reduce its holdings in Founder Securities by up to 82.32 million shares, representing approximately 1% of the total share capital, with a potential market value of about 643 million yuan at a price of 7.82 yuan per share [2][5]. - China Cinda currently holds 615 million shares in Founder Securities, accounting for 7.2% of the total share capital, and is the third-largest shareholder [3][4]. - The reduction period is set from April 29, 2025, to July 28, 2025, and is part of China Cinda's operational needs [4][6]. Group 2: Historical Reduction Attempts - China Cinda's first reduction attempt was in November 2022, aiming to sell 2% of its shares, but it did not execute any sales by the deadline in May 2023 [6]. - In July 2023, a second attempt was made, resulting in a 1% reduction, equating to 784 million yuan, lowering its stake from 8.62% to 7.62% [6]. - The third attempt in April 2024 also fell short, with only a 0.15% reduction achieved by the end of the designated period, bringing its stake down to 7.47% [6]. - The fourth attempt in August 2024 saw a reduction of 0.27%, decreasing its stake to 7.2% [7]. Group 3: Founder Securities' Performance - Founder Securities reported a total revenue of 7.718 billion yuan for 2024, an increase of 8.42% year-on-year, with a net profit of 2.207 billion yuan, up 2.55% [9]. - The company has increased its dividend payout, proposing a cash dividend of 0.593 yuan per 10 shares, totaling up to 488 million yuan, marking a dividend rate of 40.02%, the highest since its listing [9][10]. - Founder Securities has been actively disposing of assets to enhance capital efficiency, including the sale of a 49% stake in Credit Suisse Securities for approximately 885 million yuan [10][11].

Economic Policy - Shenzhen's housing provident fund loan limit has been increased to 2.31 million RMB, which has been positively received by the public, with 475 employees already utilizing the new loan offsetting service, totaling 882.315 million RMB in repayments [1] - New home prices have risen for two consecutive months, with over 70% of demand in Dalian's real estate market coming from upgrade needs, indicating a positive market sentiment supported by government subsidies and corporate discounts [2] Company Developments - Green Town China is experiencing significant management changes, indicating strong control intentions from its major shareholder, the China Communications Construction Company [3] Financial Performance - China Merchants Shekou has implemented a self-reform strategy, including a 50% salary cut for its chairman and executives, reflecting a response to market pressures [4] - Country Garden Services has reported a decline in gross profit for four consecutive periods, highlighting the costs associated with its expansion strategy [4] Market Trends - Real estate companies are actively pushing inventory, leading to increased market activity in Guangzhou, where the supply of quality land has risen and projects are being launched in central urban areas [4] - Economists suggest that stronger measures are needed to stabilize the housing market, with a projected consumer growth rate of over 5% for the year, which is essential for achieving GDP targets [6] Regulatory Actions - Shanghai's internet regulatory body has cracked down on self-media accounts spreading false information about the housing market, indicating a need for stricter controls to maintain market order [6] - Yunnan's provincial government emphasizes the need for effective measures to stabilize the real estate market, focusing on residential sales, investment in major projects, and ensuring price stability [7][8] Strategic Initiatives - The central government has outlined a strategic approach to stabilize the housing market, emphasizing the importance of balancing supply and demand, safety, and development [21] - The "white list" project approval process is crucial for stabilizing the market, with expectations for over 800 billion RMB in project approvals this year, which will help mitigate risks for real estate companies [18][19]

Core Viewpoint - The news regarding "Xinda Real Estate establishing a 30 billion yuan fund to take over Tianjin 117 Building" is identified as a false report generated by AI, highlighting the need for improved information discernment [1][2]. Group 1: Background of Tianjin 117 Building - The Tianjin 117 Building project, originally initiated by Gaoyin Real Estate in 2007, was expected to be completed in phases by 2017 with a total investment of approximately 90 to 100 billion USD (623 to 692 billion yuan) [4]. - The construction of the building began in 2008, with the main tower structure completed by September 2015, making it the tallest building in Northern China at 416.91 meters [4][5]. Group 2: Current Status and Rumors - Multiple rumors about the resumption of construction at Tianjin 117 Building have circulated throughout the year, primarily stemming from announcements by the Tianjin Second Intermediate People's Court regarding the bankruptcy proceedings of Gaoyin Real Estate [2][3]. - Despite the ongoing discussions and inquiries about the building's status, there has been no official confirmation regarding its resumption of work, and local residents have expressed skepticism about the progress [1][2][3]. Group 3: Market Impact - The real estate market surrounding the Tianjin 117 Building has seen significant changes, with the average listing price for properties in the nearby Fuguo Gaoyin area dropping to 24,600 yuan per square meter, down from 40,000 yuan per square meter five years ago [7].