"This Is A Fatal Event": China's Bond Market Hammered After Huarong Bankruptcy Rumors
by Tyler Durden Tuesday, Apr 13, 2021 - 12:01 PM The last time we looked at Huarong, China's largest state-controlled bad-debt asset manager and one of the most recognizable financial firms in the country, its former chairman Lai Xiaomin was sentenced to death after he was convicted for stealing 1.8BN yuan (roughly $277M) from the company. And while we don't know if Lai is still with us, his former employer probably wishes the money he embezzled was still around, because over the past few days Huarong has emerged as the latest a 'weakest link' in China's financial system, one which is sending...