I helped you find a false report about ABC in the Financial Times.

The truth of the divestiture of 4.6 billion huge non-performing assets in Changde Branch of Agricultural Bank of China

In 2008, Changde Branch of Agricultural Bank of China once again divested 4,625,438 million yuan of non-performing assets from Changsha Office of the Great Wall. At present, the Agricultural Bank of China is conducting a detailed investigation into this incident.

The non-performing assets divested this time are non-performing assets in 2004 and 2005, one fiscal year more than the last one, involving a large amount. In addition, there are two important reasons: First, although the Agricultural Bank of China Changde Branch was a secondary branch, the Agricultural Head Office did not withdraw the loan approval authority at that time, and the loan approval amount of the president of the secondary branch was more than one billion yuan a year. Some of the loans issued in those two years could not be recovered, so this part of the operating losses were stripped into normal bad debts in the usual way; Second, the non-performing assets of RMB46,265,438+0 billion are not completely owned by Changde Branch, and some of them are transferred by other secondary branches in Hunan in order to divest more and faster.

In order to turn the operating losses into non-performing assets and successfully divest them to the Changsha Office of the Great Wall, Changde Branch of Agricultural Bank of China forged the official documents by engraving and copying the official seals privately and scraping, cutting, cutting and altering them. And "concocted" a series of documents such as industry and commerce, courts, public security bureaus and accounting firms required by asset management companies to write off and divest, and then used the transfer opportunity to create the illusion of successful divestiture of non-performing assets.

In fact, the non-performing assets stripped by Changde Branch of Agricultural Bank of China are mainly composed of losses and sluggishness. According to the relevant policies of Agricultural Bank of China, there are two ways to deal with non-performing assets before divestiture. One is queuing for write-off, but it takes a long time; Second, it is necessary to include the losses in full, so that banks bear a heavy debt burden and their books are ugly. Only divesting to an asset management company is the most feasible method.

However, the cost for Changsha Office of Great Wall to acquire the non-performing assets of Changde Branch of Agricultural Bank of China is very low. The loss consideration is 65,438+0%, and the dull consideration is 30%. For example, an asset management company can obtain the ownership of a loss-making asset package of 5 million yuan by paying a consideration of 50,000 yuan, and then the bank will buy back the asset package at a price higher than the cost price 1 to 2 times.

The advantage of this is that asset management companies can easily double their income without auction, while Changde Branch of Agricultural Bank of China has the right to dispose of asset packages after repurchase and can reclassify assets without any policy restrictions. For enterprises with operational ability, banks will continue to collect loans from them, and the loans that cannot be recovered will be written off again as bad debts. The Agricultural Head Office has sent a special inspection team to Changde Branch of Agricultural Bank of China. At the same time, ABC began to conduct spot checks on divested non-performing assets this year. At present, it is also found that Lianyungang (6.39, 0.03, 0.47%) branch of Agricultural Bank of China also has the same violation problem.

Some insiders believe that the 81797.3 billion yuan of non-performing assets that ABC intends to divest may be the last big cake for the four major asset management companies, especially Great Wall Asset Management Company, to deal with non-performing assets. In order to avoid illegal operation in this process, ABC urgently needs to further improve its internal control mechanism.

The truth of the divestiture of 4.6 billion huge non-performing assets in Changde Branch of Agricultural Bank of China

In July, 2008, the drama of China Agricultural Bank's divestiture of more than 800 billion yuan of non-performing assets is about to begin.

At this time, around the disposal of non-performing assets of Agricultural Bank of China, there is an unsolved past involving Agricultural Bank of China Changde Branch (hereinafter referred to as "Agricultural Bank Changde Branch") and Great Wall Asset Management Company Changsha Office (hereinafter referred to as "Great Wall Changsha Office").

As early as the end of 2006, the Financial Times reported the illegal stripping of non-performing assets by Changde Branch of Agricultural Bank of China in 2003-2004. At that time, Changde Branch of Agricultural Bank of China "concocted" the documents required by the asset management company to write off and strip off non-performing assets by private engraving and copying the official seal, and stripped the operating loss of12.110 billion yuan into normal bad debts.

After more than a year, just as the share reform of the Agricultural Bank of China was speeding up in an all-round way, the Financial Times once again learned exclusively that at the end of April this year, an insider reported to the Agricultural Bank of China, and the Changde Branch of the Agricultural Bank of China once again illegally stripped the Changsha office of the Great Wall of 462,654.38 billion yuan of non-performing assets. At present, the Agricultural Bank of China is conducting a detailed investigation into this incident.

From 65.438+0.2 billion to 4.6 billion, the reporter learned that this is not only the doubling of the amount, but also the mystery of asset package repurchase hidden behind the recent divestiture of non-performing assets.

4.6 billion non-performing assets

Insiders of Agricultural Bank of China Changde Branch revealed to the Financial Times that the bank stripped this huge amount of non-performing assets from the Changsha office of the Great Wall, which originated from the investigation of Hunan Agricultural Bank by Luo, member of the Party Committee and vice president of Agricultural Bank of China.

In September, 2007, China Agricultural Bank carried out a thorough investigation of "finding out the family property". The main purpose of this work is to find out the real situation of non-performing loans and non-performing assets of provincial branches, so that ABC can digest these historical burdens before listing.

Shortly after the thorough investigation began, Luo led a team to inspect three branches in Hunan, Hubei and Henan. The reason for choosing these three provinces, an agricultural bank official who followed Luo's research said, "These three branches are relatively difficult to operate and have a heavy workload in preparing for share reform."

After three months' inventory work, Changde Branch of Agricultural Bank of China stripped 4,643.8 million yuan of non-performing assets from Changsha Office of Great Wall. This bad asset is so huge that people have to doubt the secret behind it.

When the reporter called the Agricultural Bank of China Changde Branch to inquire about the details of this huge amount of non-performing assets, the relevant person in charge of the branch refused to reply on the grounds that it involved commercial secrets.

Finally, the Financial Times contacted a former vice president of Changde Branch of the Agricultural Bank of China who was expelled from the Agricultural Bank of China in 2007 for allegedly stripping off non-performing assets of 654.38+0.2 billion yuan in violation of regulations, and he revealed the inside story to reporters.

"As far as I know, the non-performing assets divested this time are non-performing assets in the two fiscal years of 2004 and 2005. One fiscal year more than the previous fiscal year naturally involves a large amount. " The former vice president said, "In addition, there are two important reasons. First, although the Agricultural Bank of China Changde Branch was a secondary branch, at that time, the Agricultural Head Office did not withdraw the loan approval, and the loan approval amount of the president of the secondary branch was more than one billion a year. Some of the loans issued in those two years could not be recovered, so this part of the operating losses were stripped into normal bad debts in the usual way; Second, the non-performing assets of RMB46,265,438+0 billion are not completely owned by Changde Branch. In order to achieve the purpose of stripping more and faster, some of these non-performing assets were transferred from other secondary branches in Hunan. "

Behind 4.6 billion yuan

46.2 1 100 million yuan! A secondary branch stripped off such a huge amount of non-performing assets at one time, didn't it attract the attention of Changsha Office of the Great Wall?

According to the relevant regulations of the regulatory authorities, when commercial banks divest non-performing assets from asset management companies, they need asset management companies to confirm and check the relevant accounts.

A manager of the policy asset disposal department of the Changsha office of the Great Wall said, "Because of the heavy workload of account verification and the small number of staff in the office, only written materials can be audited. As long as the total balance is consistent, it will be stripped according to normal procedures, although it is known that there is the possibility of fraud. However, due to the increasingly sophisticated fraud methods of banks, it is difficult to find problems only by auditing the accounts of the office, unless it is audited by a professional department. "

It is understood that in order to turn the operating losses into non-performing assets and successfully divest them to Changsha Office of the Great Wall, Changde Branch of Agricultural Bank of China forged official documents by engraving and copying the official seals privately and scraping, cutting, cutting and altering them with knives. And "concocted" a series of documents such as industry and commerce, courts, public security bureaus and accounting firms required by asset management companies to write off and divest, and then used the transfer opportunity to create the illusion of successful divestiture of non-performing assets.

A project manager of Changde Group, the asset management department of Changsha Office of Great Wall, told the Financial Times that according to his many years' experience in disposing of non-performing assets of Changde Branch of Agricultural Bank of China, it can be said that bank fraud is common in the process of disposal, and it is also common for several branches to make fraud together. Once found, the bank will come out and take the initiative to solve it.

Repurchase fog

In the interview, the Financial Times was also surprised to learn that after the divestiture of non-performing assets, another strange thing happened-the bank took the initiative to buy back the asset package, which is the above-mentioned "active settlement".

Asset package repurchase means that after the bank divests the non-performing assets, it is usually packaged by the asset management company for public auction. Before the normal auction, the bank actively buys and recycles the asset package.

In this regard, the relevant person in charge of the Agricultural Bank of China Changde Branch gave an explanation that he thought was "logical". "The reason why we do this is to avoid letting state-owned assets flow into the hands of private enterprises or private entrepreneurs."

However, a staff member of the Audit Office who participated in the audit of Changde Branch of Agricultural Bank of China in Wuhan in 2006 questioned this explanation. "If it is really a bad asset, that is the burden of the bank. It is good for banks to be divested and auctioned. How can it cause the loss of state-owned assets? Isn't this contradictory? "

So, what is the real purpose of the bank to buy back the asset package?

The Financial Times learned about the outline of the asset repurchase program from the former vice president of the Agricultural Bank of China Changde Branch.

"The asset package repurchase occurred after the previous divestiture of non-performing assets, which is nothing new." The former vice president said frankly.

In fact, the non-performing assets stripped by Changde Branch of Agricultural Bank of China are mainly composed of losses and sluggishness. According to the relevant policies of Agricultural Bank of China, there are two ways to deal with non-performing assets before divestiture. One is queuing for write-off, but it takes a long time; Second, it is necessary to include the losses in full, so that banks bear a heavy debt burden and their books are ugly. Only divesting to an asset management company is the most feasible method.

"The non-performing assets acquired by Changsha Office of Great Wall in Changde Branch of Agricultural Bank of China are very low. The loss consideration is 65,438+0%, and the dull consideration is 30%. For example, for a loss-making asset package of 5 million yuan, the asset management company can obtain ownership by paying a consideration of 50,000 yuan, and then the bank will buy back the asset package at a price higher than the cost price 1 to 2 times. "

The advantage of this upside-down is that asset management companies can easily double their income without auction, while agricultural Changde branch has the right to dispose of asset packages after repurchase and can reclassify assets without any policy restrictions. For enterprises with operational ability, banks will continue to collect loans from them, and the loans that cannot be recovered will be written off again as bad debts.

The role of asset management companies

After receiving the tip-off letter at the end of April, ABC sent a special inspection team to the Changde branch of ABC. At the same time, ABC began to conduct spot checks on divested non-performing assets this year. At present, it is also found that Lianyungang (6.39, 0.03, 0.47%) branch of Agricultural Bank of China also has the same violation problem.

In fact, the Agricultural Bank of China prohibits asset package repurchase. As early as 2002, the head office explicitly prohibited "signing an agreement with financial asset management companies in any form to acquire divested non-performing assets" in the Reply of Guangxi Branch on Packaging and Acquisition of Stripped Assets.

But today, the special inspection team has been investigating for more than two months, but the Agricultural Bank of China has not issued any fines for the violations of the Agricultural Bank of China Changde Branch.

A person in charge of the president's office of the Agricultural Bank of China told the Financial Times, "The violation of the Changde Branch of the Agricultural Bank of China is not only the behavior of this branch, but also involves several other secondary branches in Hunan. It involves a wide range, and it is difficult to investigate all of them in a short time. In addition, some parties involved in illegal business operations have left the Agricultural Bank of China, which also increases the difficulty of the work. "

In the view of the regulatory authorities, it is not a simple "personal behavior" for ABC to strip off non-performing assets and buy back asset packages in violation of regulations, and the asset management company may play a disgraceful role behind it.

"When the Audit Commission audited asset management companies and their branches last year, it was found that there were many problems in the process of asset management companies disposing of assets divested by banks. For example, some local banks and asset management companies jointly resort to fraud, resulting in a large loss of state-owned assets; The asset disposal process is opaque, and there are many problems in internal transactions and related party transactions. " Analysis of the relevant person in charge of the fourth banking supervision department of China Banking Regulatory Commission.

Therefore, some insiders believe that the 81797.3 billion yuan of non-performing assets that ABC intends to divest may be the last big cake for the four major asset management companies, especially Great Wall Asset Management Company, to deal with non-performing assets. In order to avoid illegal operation in this process, ABC urgently needs to further improve its internal control mechanism. -

The amount of violations by ABC exceeds 50 billion.

The National Audit Office issued the No.4 Announcement of Audit Results in 2006, and announced the audit results of assets and liabilities of Agricultural Bank of China in 2003. The audit found that the problem of illegal operation of Agricultural Bank was more prominent.

Among them, from May to June, 2006, 5438+00, the special office of the National Audit Office in Changsha audited the profit and loss of assets and liabilities of Agricultural Bank of China Changde Branch in Hunan Province in 2003, and found 77 problems, involving the amount of 12 1 1 100 million yuan.

At present, 66 problems have been basically rectified, involving an amount of 654.38+0 billion yuan, and 56 people were responsible for handling them, including 6543.8+0 people transferred to judicial organs, 2 people transferred to CBRC, 9 people removed from office and 4 people detained for inspection.

While seriously investigating the responsibility, Hunan Agricultural Bank seized typical cases and comprehensively investigated hidden dangers. In view of the serious irregularities in the divestiture and repurchase of non-performing loans exposed by the audit, the bank is led by the supervision office, and the audit and risk asset management departments cooperate to carry out rectification, and the rectification results are taken as an important basis for the assessment of business departments and sub-branches. For major violations, the bank set up an ad hoc group to seriously investigate and deal with them. -

Speculative news

Shanxi coal boss chartered a flight to Beijing to buy a mansion, which is a real estate marketing hype.

Core tip: "Beijing housing prices have bottomed out?" In response to the news that Shanxi coal bosses chartered flights to Beijing to buy luxury homes, it was found through investigation that none of the members of the purchasing group were coal bosses, and some were purely working-class people, who were "looking at the house" rather than "buying a house". "The coal boss chartered a plane to buy a mansion" is just "a successful case of real estate marketing".

"Shanxi merchants chartered flights to Beijing to buy luxury homes at the bottom" and "Beijing housing prices bottomed out? Shanxi coal boss chartered a flight to Beijing to buy a luxury house ","A group of Shanxi buyers chartered a flight to Beijing to choose a high-end property "and" Shanxi coal boss chartered a flight to Beijing to buy a luxury house to buy a property of 300 to10 million "... This is a piece of news that has been heated up by various media such as the Internet in the past two weeks. The so-called Shanxi coal boss was once again placed at the forefront of public opinion and was accused by netizens as "showing off wealth, naked showing off wealth".

What is the truth? On February 8, 65438, the reporter conducted an investigation and found that this was not the case.

No one is a coal boss.

"Yesterday morning 1 1: 20, Terminal 3 of Capital Airport, the first batch of 53 people from Shanxi Yuncheng+Hejin Aircraft Group organized by a real estate website arrived by special plane. According to the introduction of the vice president of X-Housing Network, the members of this group mainly include private enterprise owners, coal mine owners and university professors. This is a report published by a certain media1October 30th. Regarding the composition of the purchasing group, another media reported: "According to Meng Jianfeng, deputy secretary-general of Yuncheng Non-public Entrepreneurs Association (reporter's note: it should be" Meng Jianfeng "), the members of the first purchasing group mainly come from the main consumer groups in Yuncheng, Shanxi Province, in addition to private entrepreneurs in the coal and coke industries, there are also responsible persons in the construction and tourism industries. "

Who are the people who make up this buying group? On the morning of February 8th, 65438 reporter called Meng Jianfeng, Deputy Secretary General of Yuncheng Non-public Entrepreneurs Association, hoping to meet him. Meng Jianfeng said on the phone that buying a house is a personal matter, and he can't disclose who is a member of the buying group. At the same time, he resolutely refused the interview and said that in all the news released by the media at present, he did not say what he had said.

On the afternoon of the same day, Sun Xinrong, Secretary General of Yuncheng Non-public Entrepreneurs Association, was interviewed by reporters in his office. According to Secretary-General Sun, among the people who went to Beijing this time, besides himself and a staff member of the Association, a total of 50 people went to see the house. He didn't provide the reporter with a list of members of the "house purchasing group", but he said with certainty: "Hejin has it, but it is less than 10% of the total number, that is, two or three people, and none of them are coal bosses. There are people going to Pinglu, not coal bosses. Yuncheng only has coal mines in Hejin Heping Road. " According to the information provided by Sun, entrepreneurs do account for the majority of these 50 people, but many of them are engaged in architecture, building materials, real estate development, advertising and clothing, and there are no university professors.

An insider who has done business and is currently working in a public institution questioned this matter and told reporters that among the 50 people in the so-called "house purchasing group", there are family members and relatives of the above-mentioned private entrepreneurs, while others are purely working-class people. "I know at least 10 people are not as rich as me."

I bought a ticket with a low discount.

"I also saw the charter flight from the Internet these two days. As far as I know, no one or group has chartered flights recently. " On the morning of the 8th, when the reporter interviewed about the charter flight, Director Pei of Yuncheng Civil Aviation Company said that there are three flights a day between Yuncheng and Beijing, all of which are Boeing 737-200, 128 seats. "If you really want a charter flight, the cost will be a huge number." At the suggestion of Director Pei, the reporter then called the civil aviation ticket office. Upon inquiry, the staff of the ticket office said that they had never been exposed to the "Beijing Yuncheng House Purchase" charter flight.

Secretary-General Sun Xinrong told reporters in an interview that all 53 people bought air tickets to Beijing, which means that the so-called "China's first" charter flight to Beijing to buy a house does not exist at all. Another insider said that the tickets of 53 people were all low-discount tickets purchased by travel agencies. A staff member of an airline ticket office said that the basic air fares from Yuncheng to Beijing are 830 yuan, 50 yuan for airport construction and 80 yuan for fuel tax. "The ticket is 7.5% off, and the round-trip ticket per person is more than 600 yuan, which is less than 700 yuan." The person in charge of a travel agency in Yuncheng confirmed that it was their travel agency that undertook the business of Yuncheng Beijing House Purchase Group.

A member of the "Beijing delegation" said that the trip to Beijing lasted for four days, starting with the house inspection on the afternoon of129, visiting the Great Wall, the Forbidden City and the Olympic venues on the third day, and returning to Yuncheng on the fourth day. The organizers of this activity provide air tickets, accommodation and meals, while the travel and round-trip air tickets are paid by themselves.

It's a viewing group, not a buying group.

"We are a viewing group, not a buying group. This is what I have repeatedly said to the people in X Room Network. " This is what Secretary-General Sun Xinrong said in his first sentence after meeting with reporters.

Regarding house inspection and house purchase, Secretary-General Sun Xinrong explained that there is a big difference between them. According to him, before he left, he emphasized to the members that "watch your money", one meaning is not to be stolen, and the other meaning is to think carefully even if you buy a house. Sun Xinrong said that the profound meaning of "looking at the house" lies in learning. Many people who go to Beijing are entrepreneurs in real estate and building materials, as well as operators of advertising companies. The important purpose of the association is to broaden our horizons and look at Beijing's real estate operation mode and architectural planning.

"It (reporter's note: refers to × housing network) has its purpose, and we have our purpose. For us, this is an opportunity. " Secretary-General Sun said that the so-called "opportunity" is to organize a house purchasing group by using X House Network, and by the way, complete the task of organizing members to go out every year. 165438+1On the afternoon of October 28th, the day before coming to Beijing, the association gathered some well-connected entrepreneurs in a hotel for a meeting. In addition to the Beijing Famous Brand Promotion Conference, the conference also held the "Yuncheng Investment Forum".

"This financial crisis was triggered by the subprime mortgage crisis in the US real estate industry. I think everyone should know about it. " Sun Xinrong said, "In addition, although most people have been to scenic spots in Beijing, the feelings and gains of going together are different."

As for buying a house, some media reported that Yuncheng bought a plane group to stay in Beijing for ***3 days. On the first day, there were 7 contracts to purchase more than 20 sets of luxury villas with a total amount of more than 3 million yuan, reaching 100 million yuan. Sun Xinrong said that someone did sign a letter of intent when looking at the house. As far as he knows, someone did buy it later. "There should be only two or three sets. There is another child who works in Beijing, and the annual rent is not small. Buying a house is more cost-effective. "

This is a real estate marketing hype.

For the storm of public opinion caused by this trip to Beijing, a "member" said that he felt very wronged. When I was in Beijing, people kept getting calls from family members or friends, telling them the hot news on the Internet, "How did we become coal bosses? How can you talk nonsense like this? " The member said.

Sun Xinrong, Secretary-General, said that he had negotiated with the organizers in advance about the hype. "I originally arranged to leave the airport after getting off the plane, but I refused; I said that I had been interviewed by more than 20 media, and I saidno. " As a result, he found that when he went to Beijing to visit his friends, they were already talking about it. "After you come back, I looked online. In fact, on the 28th, before we left, there was news that the chartered plane went to Beijing to buy a house. " .

But for the truth of the matter, almost no one went to investigate, and the parties contacted by the reporter expressed indignation and did not ask for further consultation. The spread of the hot news that "the coal boss chartered a plane to buy a mansion" in the property market was evaluated by some people as "a successful case of real estate marketing".

According to an insider, in this incident, X Housing Network not only expanded its reputation, but also benefited from it, because in addition to collecting the planning and publicity expenses of real estate developers, there is a commission for every suite sold. "In fact, in the eyes of real estate developers, it doesn't matter how many houses people buy. Now that the property market is so depressed, it is very important to gather popularity and build momentum. Taking the coal boss and the charter plane to say things is just the need for their hype. "

It is reported that the staff of × Real Estate Network is organizing the second batch of purchasing delegations to Beijing in Hejin City. A travel agency in Yuncheng, undertaking the business of the group, has initially determined the departure date of 65438+February 65438+February. The reporter contacted x room network in many ways, but failed. However, when logging in to this website, I found that in the article "The Shanxi House Buying Aircraft Group plans to deal with 7 luxury villas on the day it arrives in Beijing today" released on129, there is a sentence like this: "A Shanxi coal boss surnamed Wang told reporters: We Shanxi people are famous for buying houses, and often buy apartments and shops in our local city center at one time. In the context of the continued downturn in the real estate market, we came to Beijing to buy a building by special plane this time, with the goal of a luxury villa worth more than 3 million yuan. " I really don't know who this statement comes from, because as far as the reporter knows, no coal boss participated in this activity.

On the afternoon of the 8 th, the reporter asked Secretary-General Sun Xinrong to contact the staff of the network in Yuncheng, but Secretary-General Sun later informed that the staff member's mobile phone could not be connected.