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Tue, 20 Apr 2021 07:45   Zhou Xin

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

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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