(Bloomberg) Two of China’s largest bad-debt managers have told the banking regulator they’re concerned about losing access to the dollar bond market in the wake of turmoil at China Huarong Asset Management Co., according to people familiar with the matter.China Cinda Asset Management Co. and China Orient Asset Management Co. recently conveyed their concerns to the China Banking and Insurance Regulatory Commission, said the people, asking not to be identified discussing a private matter.While
(Bloomberg) A selloff in China Huarong Asset Management Co.’s bonds is once again broadening to the nation’s other major bad-debt managers, raising the stakes for Beijing as it weighs an industry overhaul.Dollar notes issued by China Cinda Asset Management Co., China Orient Asset Management Co. and Great Wall Asset Management Co. are falling at the fastest pace since a knee-jerk tumble in April after Huarong shocked investors by failing to publish annual results.The three Huarong peers have c
Huarong contagion risk resurfaces at peers that owe US$454B bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.