Fitch Ratings continues to expect government support for China's national asset management companies (AMCs) despite a change in shareholder control, according to a Monday release.

China's Ministry of Finance will transfer its controlling stakes in China Cinda Asset Management, China Orient Asset Management, and China Great Wall Asset Management to Central Huijin Investment, a government-owned entity.

Fitch believes the Chinese government will remain the ultimate support provider due to the AMCs' policy significance and financial system role.

The rating agency also does not see an immediate impact on the AMCs' support framework, especially given the past inconsistency and unpredictability of capital injections.

The AMCs' standalone credit profiles will likely remain weak in the near term due to economic headwinds and property sector challenges, Fitch said.

However, continued improvements in management, strategy, or risk profile due to Central Huijin's involvement could positively impact these profiles in the medium term, Fitch said.

Significant capital injections, along with better asset performance and profitability, could also enhance the AMCs' ability to fulfill their policy roles, which could lead to positive rating actions.