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Chinese distressed asset management companies (AMCs) have been accelerating the work to resolve the risks in the real estate sector since the start of this year and three of four state-owned national AMCs have made progress in the area, according to state-backed newspaper China Real Estate News.
So far, China Huarong Asset Management, China Orient Asset Management and China Cinda Asset Management has participated in 65 distressed real estate projects, which led to resumption of projects worth more than 150 billion yuan, according to the . . .
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