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

Huarong to sell $59bn of bad assets in revitalization push

Scandal-ridden debt manager secures lifeline led by state-owned Citic

The next months will be crucial in deciding the fate of Huarong, one of four asset management companies created to dispose of nonperforming assets held by China's state banks.   © AP

China Huarong Asset Management is putting 380 billion yuan ($58.8 billion) of bad assets up for sale after the scandal-plagued bad-debt manager reported a record loss last year.

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