ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
China debt crunch

China Huarong announces state bailout alongside $16bn loss

Citic leads capital injection for distressed-debt manager

The pandemic and management woes have been a double whammy for Huarong.   © Reuters
NORIYUKI DOI, Nikkei staff writer | China

SHANGHAI -- China Huarong Asset Management is set to receive a capital injection from a group of companies led by Citic Group, the state-owned bad-debt buyer said Wednesday, as it announced an estimated 102.9 billion yuan ($15.9 billion) net loss for 2020.

Read Next

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more

By continuing to browse this website, you accept cookies which are used for several reasons such as personalizing content/ads and analyzing how this website is used. Please review our Cookie Policy to learn how you can update your cookie settings.

Accept & Continue Close