Chinese local governments set up more distressed asset managers

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

As China's financial regulator accelerates the efforts to tackle the bad debt amid the weakening economy, local governments are setting up more distressed-asset management companies.

On June 11, Changsha Xiangjiang Asset Management Co. Ltd was officially set up, making it the second local distressed asset manager in Hunan province. Earlier this month, Shenzhen city set up the Shenzhen Asset Management Co. Ltd.

An executive at a provincial-level asset management company (AMC) told Yuan Talks that the number of AMCs is increasing fast in recent month, in part because the central authority has . . .

Sign In or Subscribe To Get Full Access.

Everything you are looking for about China markets is on THE WIRE, with up-to-the-minute reporting on regulatory updates, economic indicators, market trends and company spotlights throughout every trading day.

Random China information is everywhere, but focused and systematic reporting on China market is rare.

TRY US FOR FREE