-
Chinese Government Support Still High for National Asset Management Companies
Fitch Ratings continues to apply its government support framework to rate China’s national asset management companies (AMC), as the AMC’s crucial policy role results in a high probability of government support. However, we believe the government offers inconsistent support for the financial sector overall, prioritising AMCs below other policy institutions and deposit-funded systemically important banks. A recent peer review of the four rated AMCs resulted in a one-notch downgrade of China Great Wall Asset Management Co., Ltd. (BBB-/Stable) and China Orient Asset Management Co., Ltd. (BBB+/Stable) and the ... (full story)