Thursday , May 13 2021
Home / South China Morning Post / For Huarong, China’s biggest bad bank, it’s bailout or bust

For Huarong, China’s biggest bad bank, it’s bailout or bust

Summary:
[unable to retrieve full-text content]China’s biggest bad bank, which was created in 1999 to take bad assets from the country’s biggest bank, has degenerated into a really bad bank after 22 years, and it may need to rescued by offloading its bad assets to another bad bank.Lai Xiaomin, the former chairman of the bank in question – China Huarong Asset Management – was swiftly executed earlier this year after he was found to have taken 1.8 billion yuan (US6 million) worth of bribes – a record in China’s finance history. The bank’s…

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[unable to retrieve full-text content]
China’s biggest bad bank, which was created in 1999 to take bad assets from the country’s biggest bank, has degenerated into a really bad bank after 22 years, and it may need to rescued by offloading its bad assets to another bad bank.Lai Xiaomin, the former chairman of the bank in question – China Huarong Asset Management – was swiftly executed earlier this year after he was found to have taken 1.8 billion yuan (US$276 million) worth of bribes – a record in China’s finance history. The bank’s…
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