1. Sellers in the NPL acquisition market: also known as suppliers or providers of NPLs, including banks, non-bank financial institutions and non-financial institutions (including industrial enterprises, etc. Among them, the non-performing assets from financial institutions are mainly non-performing loans from banks and non-bank financial institutions, and the non-performing assets from industrial enterprises are mainly accounts receivable. In the stage of policy business and commercialization transformation, the non-performing assets acquired by the four major asset management companies mainly come from banking financial institutions.

2. Buyers (recipients) and sellers (recipients) of the NPL acquisition market: In the NPL management industry in China, the four major asset management companies are not only the main recipients of the NPL acquisition market in China, but also the main recipients of the NPL acquisition market in China. In addition to the four major asset management companies, China's non-performing asset management industry also includes local asset management companies, private asset management companies and foreign investors. In recent years, with the accumulation of business experience and the improvement of the ability to comprehensively use multi-functional financial platforms, the four major asset management companies have paid more attention to the capital market and comprehensive financial services in addition to the traditional means of disposing of non-performing assets, and improved the income from disposing of non-performing assets by enhancing the value of non-performing assets.

3. Dealing with the buyer of non-performing assets in the market: Debt restructuring is the main way for financial asset management companies to deal with it. Financial asset management companies also dispose of non-performing assets by transferring them to third parties. The main buyers of non-performing loan market are debtor enterprises and their related parties, such as shareholders and controlling parties. Other buyers include financial investors.

4. Other participants: In addition, there are professional third-party service agencies in the NPL management market, including professional appraisers of NPLs, debtor rating agencies, auction agencies, law firms, NPL trading platforms and other service providers. With their professional knowledge and ability, these institutions provide professional intermediary services for the non-performing asset market in China and play an important role in the value chain of non-performing asset management.

Many participants in China's non-performing assets market use the property rights market, capital market, leasing market, foreign exchange market and trust market to transfer, invest and trade non-performing assets in various ways, which promotes the flow and redistribution of capital, management and technology related to non-performing assets and promotes the structural adjustment of related industries. The activities of participants in the non-performing asset market have promoted the preservation and appreciation of assets, promoted the development of the non-performing asset market, and also promoted the adjustment of the national economic structure, promoted the effective allocation of resources, and maintained the stable operation of the financial system.