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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.

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