Xiao Min Lai

The People's Bank of China is the central banking system of the People's Republic of China. Its activities include monetary policy implementation, financial market regulation, and state treasury management. It also organizes anti-money laundering work and monitors relevant fund flows. The company was founded on December 1, 1948 and is headquartered Beijing, China.

China Huarong Asset Management Co., Ltd. (Invt Port) (China Huarong IP) is the investment portfolio division of China Huarong Asset Management Co. Ltd., the investment advisory subsidiary of the Government of China's Ministry of Finance. The firm was established in 1999 when China set up four asset management companies to deal with the toxic assets of the country's four largest state-owned banks in a bid to help them transform quickly into market-oriented institutions. Headquartered in Beijing, China Huarong IP has several locations in China and purchases, manages, and disposes non-performing assets transferred from The Industrial and Commercial Bank of China. They also provide debt claiming, asset swapping, debt restructuring, refinancing arrangements, consulting and other related services.