金融监管总局表示，《办法》出台是贯彻落实中央金融工作会议精神的有力举措，有助于完善地方 资产管理公司监管制度，引导行业提高风险管理和合规经营水平，夯实可持续发展基础。金融监管总局 将指导联动地方金融管理机构，做好《办法》实施工作，进一步推动地方资产管理公司行业发挥自身优 势，提升服务防范化解区域性金融和实体经济风险质效。 （责任编辑：关婧） 根据《办法》，地方资产管理公司可以通过向金融机构贷款、向股东借款、发行债券等形式融入资 金，不得吸收或者变相吸收公众存款，不得通过地方各类交易场所、非持牌资产管理机构、私募投资基 金等机构融资。地方资产管理公司融入资金的余额不得超过其净资产的三倍。 《办法》还进一步明确监管职责分工。省级地方金融管理机构对本地区地方资产管理公司的监督管 理和风险处置负总责，金融监管总局及派出机构加强与地方的监管信息共享和工作协同，共同引导行业 规范健康发展。 国家金融监督管理总局网站7月15日消息显示，金融监管总局近日制定发布《地方资产管理公司监 督管理暂行办法》，旨在加强对地方资产管理公司的监督管理，促进行业规范健康发展，更好助力防范 化解区域性金融和实体经济风险。《办法》明确规范地方资 ...

Core Viewpoint - The introduction of the "Interim Measures for the Supervision and Administration of Local Asset Management Companies" aims to enhance the regulatory framework for local asset management companies, improve risk management, and ensure compliance within the industry [1][3]. Group 1: Regulatory Framework - The "Measures" consist of four chapters and forty-five articles, covering general principles, business operations and risk management, supervision, and supplementary provisions [1]. - The goal is to solidify the sustainable development foundation of local asset management companies and enhance their role in mitigating regional financial and real economy risks [3]. Group 2: Business Operations - The "Measures" specify the business scope, operational ratios, operational regions, and the types of assets that local asset management companies can acquire, emphasizing a focus on their primary responsibilities [3]. - It regulates the handling of non-performing assets, including debt recovery and external transfers, and sets clear operational boundaries, prohibiting practices such as guaranteed principal returns and the creation of hidden local government debts [3]. Group 3: Risk Management - The "Measures" impose strict risk management requirements, including limits on investment balances with single clients and groups, which cannot exceed 10% and 15% of the company's net assets, respectively [4]. - It mandates that local asset management companies maintain quality liquid assets to cover net cash outflows for the next 30 days and restricts total debt exposure to related parties to 50% of the previous quarter's net assets [4]. - External financing is also regulated, with a cap on borrowed funds not exceeding three times the company's net assets to prevent risk spillover [4]. Group 4: Supervision Responsibilities - The "Measures" clarify the division of supervisory responsibilities, assigning provincial financial management institutions the overall responsibility for supervising local asset management companies and managing risks [4]. - The financial regulatory authority and its local branches are tasked with enhancing information sharing and collaboration to guide the industry towards standardized and healthy development [4].

Core Viewpoint - The article discusses the implementation of the "Interim Measures for the Supervision and Administration of Local Asset Management Companies" by the Financial Regulatory Bureau, aimed at standardizing the operations of local asset management companies (AMCs) and enhancing their focus on core responsibilities while effectively serving local needs [1][2]. Regulatory Framework - The new measures are a significant step in establishing a unified regulatory framework for local AMCs, addressing previous issues of fragmented management and regulatory oversight [3][4]. - The provincial financial management institutions are designated as the primary supervisory bodies for local AMCs, ensuring accountability and coordination with the Financial Regulatory Bureau [4]. Business Scope and Restrictions - The measures delineate the business scope for local AMCs, allowing them to engage in the acquisition, management, and disposal of non-performing assets, while prohibiting activities outside this scope [7][8]. - Five key operational restrictions are established, including prohibitions against guaranteeing principal and fixed returns, facilitating false reporting for financial institutions, and engaging in illegal debt recovery practices [9][10]. Risk Management Requirements - The measures introduce specific risk management requirements, including limits on concentration risk, liquidity risk, and related party transactions [11][12][14]. - Local AMCs are required to maintain a minimum level of high-quality liquid assets to cover net cash outflows for the next 30 days [13]. Industry Outlook - The importance of local AMCs is highlighted, with projections indicating that the scale of non-performing asset management will reach RMB 16,877 billion by 2029, with a compound annual growth rate of 14.8% from 2024 to 2029 [6].

Core Viewpoint - The introduction of the "Interim Measures for the Supervision and Management of Local Asset Management Companies" aims to enhance supervision, promote healthy industry development, and mitigate regional financial and economic risks [1][3]. Group 1: Regulatory Framework - The "Measures" consist of four chapters and forty-five articles, covering general principles, business operations and risk management, supervision, and supplementary provisions [2]. - The framework specifies the operational behaviors of local asset management companies, including business scope, operational areas, and asset acquisition limits, to ensure they focus on their primary responsibilities and effectively serve local needs [2]. Group 2: Risk Management - The "Measures" establish concentrated risk management requirements, limiting the financing balance for single clients and groups to 10% and 15% of the company's net assets, respectively [2]. - Liquidity risk management is defined, mandating that local asset management companies maintain quality liquid assets to cover net cash outflows for the next 30 days [2]. - Regulations on related party transactions are set, capping the total debt to related parties at 50% of the company's net assets [2]. Group 3: Supervision Responsibilities - The provincial financial management institutions are designated as responsible for the supervision and risk management of local asset management companies within their jurisdictions [2]. - The financial regulatory authority will enhance information sharing and collaboration with local institutions to guide the industry towards standardized and healthy development [2][3].

国家金融监督管理总局发布《地方资产管理公司监督管理暂行办法》，《办法》提到，划定经营红线， 明确地方资产管理公司不得从事约定本金保障和固定收益承诺或者要求转让方承担回购义务、帮助金融 机构等虚假出表掩盖不良资产、为融资平台提供融资通道新增地方政府隐性债务等经营行为。 ...