AI Top 50 2018 – 970×90 CN

China Cinda Uses Tech To Expands Non-Performing Loan Sales

China Cinda Asset Management Co., Ltd,one of China’s Big Four AMCs (Asset Management Company), saw its non-performing asset business grew 29.6% in 2017 to RMB135.5 billion (US$21 billion). Revenues from non-performing assets management expanded faster, up 41.2% year-on-year in 2017 to RMB45.3 billion (US$7 billion), according to its annual report.

PwC’s Victor Jong Says "Learning Curve Is Steep" For Chinese Debt Restructuring Participants

Victor Jong, Partner, Advisory Services, PwC, is based in Shanghai and has practiced in the insolvency and corporate reorganization field since 1994. He transferred to PwC’s Shanghai office in 2004 to develop the restructuring and insolvency practice in mainland China. He has advised on numerous debt restructurings, distressed investments, receiverships and liquidation assignments in the Greater China region.

Gaw Capital Enters Distressed Real Estate Sector With $1B New Fund With Country Garden Unit

Hong Kong-based private real estate investment firm Gaw Capital has teamed up with Shenzhen Paladin Asset Management, the investment arm of one of the largest Chinese property developers, Country Garden Group,to jointly launch a US$1 billion special situations fund to invest in distressed real estate projects in China, Gaw Capital confirms to China Money Network.

China’s AVIC Capital To Jointly Set Up $1.58B Local "Bad Bank" In Chengdu

AVIC Capital Co., Ltd., a financial services provider controlled by the Aviation Industry Corporation of China, Ltd, announced that it will partner with one of the country’s Big Four state-owned asset managers China Great Wall Asset Management Co. and other financial institutions to set up a RMB10 billion (US$1.58 billion) local "bad bank" in Chengdu city.

China Huarong Chairman Lai Xiaomin Is Investigated For Severe Disciplinary Breaches

The Chinese State Commission of the Central Commission for Discipline Inspection has disclosed that Lai Xiaomin, party secretary and chairman of China Huarong Asset Management Co., Ltd., was suspected of serious violation of laws and regulations and is currently undergoing disciplinary review and investigations, China’s Xinhua News Agency reported.

China’s HNA Group Looks To Sell US$6.3 Billion Stake In Hilton Worldwide

Financially-troubled Chinese conglomerate HNA Group Co Ltd. is looking to sell "some or all" of its US$6.3 billion stake in Hilton Worldwide Holdings Inc., according to a regulatory filing by Hilton. HNA, whose holdings range from airlines to hotels and financial services, is rapidly shedding assets to regain financial stability following a two-year, US$50 billion acquisition spree.