China-Singapore Jingwei, June 30 (Ma Jing) On the 29th, the Standing Committee of the Nanjing Municipal People's Congress issued a decision to appoint Deng Zhiyi as deputy mayor of the Nanjing Municipal People's Government (temporary position).
Deng Zhiyi is the president of China Orient Asset Management Co., Ltd. (hereinafter referred to as China Orient Asset ) and has long-term working experience in the banking regulatory system. He once said in an interview that finance is the blood of economic operation and must be cleaned and filtered regularly.
Deng Zhiyi’s responsibilities during his tenure as deputy mayor of Nanjing. Source: Nanjing Municipal Government’s official website
The Nanjing Municipal Government’s official website shows that Deng Zhiyi is responsible for investment promotion, investment promotion, finance, handling of financial risks, etc. ; assists in charge of city prevention Resolve Major Financial Risks Headquarters, Municipal Investment Promotion Bureau, Municipal Local Financial Supervision and Administration Bureau (Municipal Government Financial Work Office), Nanjing Zijin Investment Group Co., Ltd., Bank of Nanjing , Nanjing Securities Co., Ltd. ; for assistance contact Financial, insurance and securities institutions in Nanjing.
Deng Zhiyi has worked in the regulatory department for a long time and participated in the restructuring and overseas listing of four state-owned commercial banks, namely "China Industrial and Peasant Construction Company". Resume shows that Deng Zhiyi started working in 1988 and served in the Central Bank's Fund Management Department, Planning and Funding Department, Monetary Policy Department and other departments. Later, he served as the Secretariat of the Comprehensive Reform Office of the former Banking Supervision Department of the China Banking Regulatory Commission. Director; former deputy director of the Banking Supervision Department of the China Banking Regulatory Commission; former party secretary and director of the Shanxi Supervision Bureau of the China Banking Regulatory Commission; former party secretary and director of the Hubei Supervision Bureau of the China Banking Regulatory Commission; former director of the Consumer Rights Protection Bureau of the China Banking Regulatory Commission; director of the Trust Supervision and Management Department of the China Banking and Insurance Regulatory Commission.
In August 2018, Deng Zhiyi became the executive director and president of China Orient Asset Management. In April this year, due to the retirement of the original chairman Wu Yue, he performed the duties of chairman for more than two months. China Orient Asset Management is a central financial enterprise jointly established by the Ministry of Finance and the Social Security Fund Council and one of the four major AMCs. Since its establishment, its main mission has been to protect state-owned assets, prevent and resolve financial risks, and promote the reform of state-owned enterprises. Its business scope involves the management and disposal of non-performing assets, debt-to-equity swaps, and custody of risky financial institutions. data shows that from the end of 2018 to the end of 2021, China Orient Asset’s total assets increased from 1,086.755 billion yuan to 1,205.793 billion yuan.
Deng Zhiyi once mentioned in an interview with the media, " Finance is the blood of economic operation. Regular filtering and cleaning are actually very beneficial to the operation of the entire economy. " In his view, asset management companies are not only Doing "scavenger" work for the financial body is also an industrial chain that rediscovers, reorganizes and reconstructs value, which can improve the quality and effect of the national economic operation from the value chain.
It is worth noting that the Party Committee of the China Banking and Insurance Regulatory Commission recently published an article stating that in recent years, small and medium-sized financial institutions have made positive progress in the reform and elimination of risks, ensuring the smooth operation of the urban and rural financial systems and making overall risks preventable and controllable. However, there are also problems such as actual risks being higher than book levels, existing risks being more difficult to deal with, and regional risks being relatively concentrated. We must improve the fiscal and financial risk disposal mechanism for which the main leaders of local party and government are responsible, and promote the implementation of local stability maintenance and risk resolution responsibilities. Adhere to "one bank, one policy" and "one department, one policy" and continue to do a good job in handling high-risk institutions in key areas. (For more report clues, please contact the author of this article, Ma Jing: email: [email protected]) (China-Singapore Jingwei APP)
(The views in this article are for reference only and do not constitute investment advice. Investments are risky, so be cautious when entering the market. )
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