Chinese bad-debt assets management company Huarong just showed the world how the Beijing authorities save troubled state-run companies that it deems too big to fail. China’s top distressed assets manager, state-owned China Huarong Asset Management Co., said on Aug. 19 that five state-owned financial institutions would invest in it after the company announced a net…
China Huarong Wins State-Led Bailout, After Losses Record Over 100 Billion
What Does Lai Xiaomin’s Speedy Execution Mean for China?
Commentary On Jan. 29, Lai Xiaomin, former chairman of China’s largest asset management firm, was executed in Tianjin city. Lai, who was head of China Huarong Asset Management Co., was charged with accepting bribes totaling 1.788 billion yuan ($280 million). On Jan. 5, the Tianjin No. 2 Intermediate Court sentenced Lai to death for taking…
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