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  ◎记者马慜

  近日,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》(下称“指导意见”)。对此,5家全国性金融资产管理公司(AMC)均表示,将深入践行化解金融风险、服务实体经济的时代使命。

  构建“1+N”行业监管体系

  AMC是金融化险纾困的“主力军”。目前,共有5家全国性AMC,分别为中国中信金融资产管理股份有限公司(原中国华融)、中国信达资产管理股份有限公司、中国东方资产管理股份有限公司、中国长城资产管理股份有限公司、中国银河资产管理股份有限公司。

  回溯历史来看,前4家AMC成立于20世纪90年代末,最初的使命是化解国有银行的不良资产,推动金融体系改革。2022年,中国华融加入中信集团,并更为现名。银河资产成立于2021年,为中央汇金参股、控股机构。

  2024年11月,国家金融监督管理总局印发《金融资产管理公司不良资产业务管理办法》(下称“管理办法”)。管理办法要求AMC在新形势下更好地发挥金融救助和逆周期调节的功能作用。管理办法连同指导意见,构成了不良资产行业的主要监管制度体系。

  长城资产表示,指导意见的出台进一步建立健全了资产公司“1+N”监管制度体系,明确了资产公司高质量发展的新要求和配套举措。中国中信金融资产认为,指导意见为金融资产管理公司发展勾画出清晰路径。中国东方称,指导意见具有很强的系统性、指导性和针对性。

  银河资产表示,自2021年正式展业以来,始终把“高质量发展”作为企业经营管理的核心要义。指导意见的发布实施,为银河资产深化转型、探索新路提供了重要契机。

  “管理办法侧重于对业务的严监管,指导意见则明确金融资产管理公司的发展导向。”上海金融与法律研究院研究员杨海平表示,两个文件相辅相成,引导AMC围绕功能定位,在风险化解主战场发挥“秃鹫”投资者作用,助力盘活不良资产,加快风险出清,通过更高效地服务重点风险化解,进而实现自身高质量发展。

  上海金融与发展实验室主任曾刚认为,要充分发挥金融资产管理公司在新时期防范化解金融风险的功能,更好地帮助实体企业应对挑战,制定一个系统全面的金融资产管理公司不良资产业务管理办法,推进金融资产管理公司发展不良资产的主责主业,在金融资产管理公司面临新的转型时期,必要而迫切。

  当好风险化解“主力军”

  AMC不断丰富职能,逐渐从单一的不良资产处置,扩展到多元化的金融服务领域,包括投资、证券化、债转股等。在政策引导下,AMC立足功能定位,更加聚焦主责主业。

  当前,经济发展新旧动能转换加速,防范化解金融风险的重要性日渐突出,AMC领域迎来全新机遇。

  中国中信金融资产认为,银行不良资产处置、破产重整、房地产纾困、国企改革等均是万亿级潜力市场,是金融资产管理公司重要的业务“蓝海”。下一步,将当好防范化解风险“国家队”“主力军”,不断提升服务实体经济质效,以高质量金融服务强国建设。

  今年2月,中国东方、信达资产、长城资产等3家AMC已经整合到中央汇金公司旗下。在业内人士看来,随着股权划转完成,行业格局将趋于稳定,也对AMC支持化险纾困提出更高要求。

  “以股权划转为契机,中国长城资产改革发展进入了新的阶段,指导意见的出台对可持续健康发展给予了有力政策支撑。”长城资产称。

  中国社会科学院金融研究所银行研究室主任李广子表示,3家AMC划入中央汇金有助于进一步理顺国有金融资本管理体制,提升其资本实力,化解存量风险,提高服务实体经济能力。

  中国信达表示,将聚焦主责主业,深化改革转型,强化风险防控,持续打造差异化竞争优势,坚定不移走中国特色金融资产管理公司高质量发展之路,以防范化解风险、服务实体经济的实干实绩,为加快推进金融强国建设作出新贡献。

  在曾刚看来,监管体系对AMC明确了“强内核、优主业、严监管”的高质量发展路径,同时回应了防范系统性金融风险、支持实体经济的核心命题。从落地实施角度而言,高效配套政策和监管执行力将决定其实际效果。此外,公司自主改革力度以及对市场变化的灵活应对也是实现长远发展目标的关键。

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