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China’s top banking regulator sees surge of bad loans in 2021 as effects of coronavirus bite

Summary:
[unable to retrieve full-text content]When the Industrial and Commercial Bank of China (ICBC), the world’s largest bank by asset size, started to auction 657 million yuan (US1.5 million) of its non-performing assets in six tranches on Monday, it drew strong interest from bad loan disposal firms.One of the packages received 44 bids from nine asset management companies (AMCs), including domestic firms China Orient Asset Management Company, China Great Wall Asset Management and China Cinda Asset Management, according to a statement…

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[unable to retrieve full-text content]
When the Industrial and Commercial Bank of China (ICBC), the world’s largest bank by asset size, started to auction 657 million yuan (US$101.5 million) of its non-performing assets in six tranches on Monday, it drew strong interest from bad loan disposal firms.One of the packages received 44 bids from nine asset management companies (AMCs), including domestic firms China Orient Asset Management Company, China Great Wall Asset Management and China Cinda Asset Management, according to a statement…

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