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There is pressure to resolve the fate of China's bad debt manager Huarong


There is pressure to resolve the fate of China’s bad debt manager Huarong
Six months after President Lai Xiaomin was found guilty of corruption and executed, Huarong Asset Management, the fate of China’s biggest bad debt manager, is no clearer and its commitment to Beijing is growing.
One of the four state-owned asset management companies created in 1999 to clear the debts of the banking sector after the Asian financial crisis, the turmoil in Huarong has deepened since Lai’s death.
The failure to release its financial accounts for 2020 and the lack of Rmb1.7tn ($ 261 billion) in assets on the balance sheet has caused major uncertainties in the $ 22 billion in bonds the group sold to international investors. ....

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High-grade iron ore supply to struggle to meet demand as China decarbonizes: MI

Strong iron ore prices have shown great resilience, with the sustainability of their rally attracting market attention. The S&P Global Platts 62% Fe index, IODEX, reached a record $233.1/dmt on May 12 driven by a resurgence in global demand, tightening supply and runaway steel prices. Although the IODEX eased back slightly in early June, iron . ....

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