The TA will assist, on a pilot basis, the commercialization of asset management companies (AMCs) and market-based NPL financing by (i) helping Cinda AMC in structuring and issuance of the domestic ABS, and policy makers and financial market regulators in the establishment of a conducive policy, legal and regulatory environment for ABS market development; and (ii) developing a corporatization and restructuring plan for Cinda AMC based on sound operational, financial, and risk mitigation considerations; and introducing the best practices in corporate governance.
|Project Name||Development of Asset Backed Securities Market and the Restructuring of State-owned Asset Management Companies|
|Country||China, People's Republic of
|Project Type / Modality of Assistance||Technical Assistance
|Source of Funding / Amount||
|Strategic Agendas||Inclusive economic growth
|Drivers of Change||Governance and capacity development
|Sector / Subsector||
Finance - Finance sector development
|Gender Equity and Mainstreaming||No gender elements|
|Description||The TA will assist, on a pilot basis, the commercialization of asset management companies (AMCs) and market-based NPL financing by (i) helping Cinda AMC in structuring and issuance of the domestic ABS, and policy makers and financial market regulators in the establishment of a conducive policy, legal and regulatory environment for ABS market development; and (ii) developing a corporatization and restructuring plan for Cinda AMC based on sound operational, financial, and risk mitigation considerations; and introducing the best practices in corporate governance.|
|Project Rationale and Linkage to Country/Regional Strategy||Part of ADB's financial sector strategy, as stipulated in the Country-Strategy and Program Update, is to (i) assist the restructuring and strengthening institutional capabilities of state-owned financial institutions, (ii) enhance governance through strengthening legal, regulatory and supervisory framework, and (iii) encourage financial institutions to adopt sound corporate governance standards in harmony with international best practices.|
|Description of Outcome|
|Progress Toward Outcome|
|Description of Project Outputs|
|Status of Implementation Progress (Outputs, Activities, and Issues)|
|Geographical Location||East Asia|
|Summary of Environmental and Social Aspects|
|Stakeholder Communication, Participation, and Consultation|
|During Project Design|
|During Project Implementation|
|Consulting Services||The TA will engage three international consultants for a total of 7 person-months, comprising an ABS Specialist (2 person months), a legal advisor (2 person-months) and an institutional restructuring specialist (3 person-months). Five domestic consultants will be engaged for 14 person-months and will include: an NPL legal documentation specialist (6 person-months), an ABS issuance legal specialist (1 person-month), an accounting specialist (2 person-months), a credit rating specialist (2 person-months), and an institutional restructuring specialist (3 person-months). The consultants will be selected and engaged on an individual basis in accordance with ADB's Guidelines on the Use of Consultants and other arrangements satisfactory to ADB.|
|Responsible ADB Officer||Qian, Ying|
|Responsible ADB Department||East Asia Department|
|Responsible ADB Division||Public Mgt, Financial Sector and Regional Coop Division, EARD|
Ministry of Finance
Mr. Han Bin, Deputy Director
Sanlihe, Xicheng District Beijing,100820 People's Republic of China
|Concept Clearance||09 Mar 2004|
|Fact Finding||18 Nov 2004 to 26 Nov 2004|
|Approval||19 Jul 2005|
|Last Review Mission||-|
|PDS Creation Date||14 Feb 2008|
|Last PDS Update||12 Oct 2010|
|Approval||Signing Date||Effectivity Date||Closing|
|19 Jul 2005||05 Aug 2005||05 Aug 2005||31 Dec 2006||31 Jul 2010||-|
|Financing Plan/TA Utilization||Cumulative Disbursements|
|1,000,000.00||0.00||0.00||0.00||0.00||0.00||1,000,000.00||19 Jul 2005||697,334.44|
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
The Public Communications Policy (PCP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.
In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.
|Title||Document Type||Document Date|
|Development of Asset-Backed Securities Market and the Restructuring of State-owned Asset Management Companies||TA Completion Reports||Dec 2011|
|Development of Asset-Backed Securities Market and Restructuring of Asset Management Companies||Consultants' Reports||Jan 2010|
|Technical Assistance to the People's Republic of China for Development of Asset-Backed Securities Market and Restructuring of Asset Management Companies||Technical Assistance Reports||Jul 2005|
|Development of Asset-Backed Securities Market and Restructuring of Asset Management Companies||Technical Assistance Reports||Jul 2005|
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
None currently available.
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