Chinese bad debt manager China Huarong Asset Management Co., Ltd. has raised HK$17.8 billion (US$2.3 billion) in an initial public offering in Hong Kong.
China Huarong Asset Management Co., Ltd., the biggest state-owned Chinese distressed debt management firms, has officially established a financial asset management company in Macau, to support the "One Belt, One Road" initiative, the company announced yesterday.
China has a new way to deal with its growing pile of bad corporate debt with the establishment of the nation’s first online distressed asset exchange. China Huarong Asset Management Co Ltd, a large state-owned asset manager, last week launched an online platform for bad debt transactions named the Huarong Zhongguancun Distressed Asset Exchange Co. The new entity is the first institution in China dedicated to the trading of bad debt and will have a registered capital of RMB500 million (US$80 …
China’s Big Four AMCs (Asset Management Company) have all published their operating performance of 2017, after China Huarong Asset Management Co., Ltd. and China Cinda Asset Management Co., Ltd. reported their results in Hong Kong last week.
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.