Stay updated with breaking news from Hengfeng bank. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Advertisement There are sufficient echoes of the late 1990s in the struggles of Chinaâs Huarong Asset Management to stay afloat to concern the authorities in Beijing and provide some context for their continuing efforts to reduce the excessive leverage in Chinaâs financial system. Huarong was created in the aftermath of the Asian Financial crisis of 1997 and 1998, which occurred just as Chinaâs economy opened up during the earliest phase of a progressive and still-incomplete deregulation of its financial system. There are rising fears about the financial health of China Huarong Asset Management - a distressed-debt manager controlled by the countryâs finance ministry. ....
Huarong: The echoes of China's bad debt crisis are being heard as a giant struggles to survive smh.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from smh.com.au Daily Mail and Mail on Sunday newspapers.