WSAM, established in 1994, is an investment holding company in Wuhan, the capital of Hubei province.
'Strong' Government Support Record: WSAM is a major GRE in Wuhan that has received over CNY4 billion in capital injections from the government since its inception, equivalent to about 25% of its equity at end-2017.
'Moderate' Socio-Political Implications: WSAM is Wuhan's state-owned investment platform that carries out retail and financial-service businesses, and industrial investment.
'Strong' Financial Implications: WSAM has borrowed substantially from banks and the debt capital market over the past few years.
Investment Company Profile: WSAM acts as the investment platform and asset manager of the Wuhan municipal government.
Legal Status Attribute Mid-Range: WSAM is registered as a state-owned limited liability company under Chinese company law and it is allowed to go bankrupt.
Strategic Importance Attribute Stronger: WSAM is Wuhan government's flagship investment vehicle and represents around 30% of the revenue from all of Wuhan's public-sector entities.
Integration Attribute Mid-Range: WSAM's integration reflects the capital injections and subsidies made by the government.
Control Attribute Stronger: WSAM's board is mainly appointed by the government and its major projects require government approval.