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Caixin Global - Latest Business and Financial News on China, U.S. Trade War and Negotiations, Breaking News, Headlines and Developments caixinglobal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from caixinglobal.com Daily Mail and Mail on Sunday newspapers.
Caixin Global - Latest Business and Financial News on China, U.S. Trade War and Negotiations, Breaking News, Headlines and Developments caixinglobal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from caixinglobal.com Daily Mail and Mail on Sunday newspapers.
Thursday, Apr 15, 2021 - 09:50 PM By Ling Huawei, managing editor of Caixin Media and Caixin Weekly. Originally published in Caixin, After China Huarong Asset Management Co. Ltd. on March 31 decided to suspend its share trading the next day, the market became awash in rumors that the company, one of the country’s four largest bad-asset managers, would be forced into restructuring or might even go bankrupt (as we discussed in This Is A Fatal Event : China s Bond Market Hammered After Huarong Bankruptcy Rumors). The rumors spooked many institutional investors, sending the company’s bonds tumbling. Huarong, a product of China’s reform of state-owned banks at the end of last century, has once again found itself at the center of a ....
What's Next for Huarong? The Best and Worst Case Scenarios msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
by Tyler Durden Tuesday, Apr 13, 2021 - 12:01 PM The last time we looked at Huarong, China s largest state-controlled bad-debt asset manager and one of the most recognizable financial firms in the country, its former chairman Lai Xiaomin was sentenced to death after he was convicted for stealing 1.8BN yuan (roughly $277M) from the company. And while we don t know if Lai is still with us, his former employer probably wishes the money he embezzled was still around, because over the past few days Huarong has emerged as the latest a weakest link in China s financial system, one which is sending shockwaves across all of China s capital markets. ....