Core Viewpoint - Guangzhou is pioneering a "new model for special asset management" through policy innovation and platform development, aiming to mitigate major risks and promote high-quality economic growth [1]. Group 1: Special Asset Management Model - Guangzhou is the first city in China to systematically propose a "new model for special asset management" [1]. - The "2024 Work White Paper on Building a New Model for Special Asset Management in Guangzhou" was released at the 14th China (Guangzhou) International Financial Trading Expo [1]. - The white paper indicates that the scale of the special asset market in China has been expanding, with non-performing loans in the banking sector reaching 3.95 trillion yuan by the end of 2023 [1]. Group 2: Key Initiatives - Establishment of the Greater Bay Area Special Asset Empowerment Service Platform, which integrates online and offline services covering asset diagnosis, restructuring, and financing [2]. - Implementation of a government-court linkage mechanism to optimize bankruptcy restructuring processes and reduce institutional costs [2]. - Improvement of the business environment by innovating mechanisms for bankruptcy case processing and enhancing asset disposal transparency [2]. - Development of industry clusters in Tianhe District to attract financial institutions and create a special asset trading hub [2]. - Creation of an open ecosystem to attract domestic and foreign capital for special asset disposal through various policies and mechanisms [2]. Group 3: International Restructuring Center - The Bay Area International Restructuring Center was officially launched, marking a significant step in corporate rescue and financial risk mitigation [3]. - The center aims to provide restructuring guidance and support for distressed companies through professional advisory services and resource linkage [3]. - A "government guidance + market-driven + judicial guarantee" service system is being established to support asset restructuring [3]. - The center emphasizes international restructuring efforts and seeks to align rules within the Guangdong-Hong Kong-Macao Greater Bay Area for cross-border restructuring solutions [3].

Core Viewpoint - The establishment of the Bay Area International Restructuring Center in Guangzhou marks a significant step in addressing corporate distress and financial risk mitigation, providing specialized services for debt resolution, cross-border restructuring, and industrial upgrading [1] Group 1: Establishment and Purpose - The Bay Area International Restructuring Center is formed by the Guangzhou Trading Group's Bay Area Special Asset Empowerment Service Platform in collaboration with various associations and asset management companies [1] - The center aims to alleviate the pressure on courts handling bankruptcy cases and enhance the success rate of corporate restructuring [1] Group 2: Context and Need - There is an increasing demand for corporate rescue due to multiple factors such as international conditions and economic cycle fluctuations, with limited avenues for relief [1] - The center responds to the national development strategy of the Guangdong-Hong Kong-Macao Greater Bay Area and aims to optimize the regional business environment [1] Group 3: Special Asset Management - Special assets are defined as those undervalued or requiring quick liquidation due to economic cycles, policy controls, credit defaults, and operational management issues [2] - The special asset management industry is viewed as a crucial channel for mitigating financial risks and unblocking the real economy [2] Group 4: Achievements and Future Plans - The Bay Area Special Asset Empowerment Service Platform has established a special asset project database, managing nearly 200 billion yuan in asset projects and providing full-process empowerment services for 422 projects amounting to 84.168 billion yuan [2] - The platform will support the Bay Area International Restructuring Center by introducing funding, industry resources, and professional institutions to efficiently handle and revitalize restructuring assets [2]