As a specialized financial asset trading institution, Beijing Financial Assets Exchange (CFAE) was founded with the approval of Beijing Municipal People's Government under the guidance of the Ministry of Finance as well as the People's Bank of China (PBC), China Insurance Regulatory Commission (CIRC). Its official operation started on May 30th, 2010.
CFAE serves as the bond issuance and trading platform approved by PBC, trading platform designated by National Association of Financial Market Institutional Investors (NAFMII), state-owned financial assets trading platform authorized via MoF Decree No.54, market-based debt-to-equity swap assets trading place as well as technical support and operation and maintenance agency for "Market-Based Debt-to-Equity Swap Information Reporting Platform" authorized by Office of Joint Inter-ministerial Meeting for Actively and Steadily Reducing Enterprise Leverage Ratio, and service platform for cross-border transfer of non-performing assets approved by the State Administration of Foreign Exchange. Under the leadership of the NAFMII Party Committee, CFAE provides such services as bond issuance & trading, matured defaulted bonds transfer, default repo trading, creditor's right financing program, corporate equities trading, market-based debt-to-equity swap assets trading, and creditor’s right and debt assets trading, providing efficient services for various financial assets, ranging from filing, listing, information disclosure and recording to trading and settlement.
CFAE was established in the form of a limited liability company with contributions from NAFMII, China Beijing Equity Exchange (CBEX), CINDA Investment Co., Ltd, China Everbright Investment Management Corp., Beijing Huarong Comprehensive Investment Company, Huaneng Capital Service Co., Ltd, and China Bond Rating Co., Ltd.