China Huarong Asset Management Co., Ltd. known as just China Huarong (Chinese: 中国华融) is a majority state-owned financial asset management company in China, with a focus on distressed debt management. It was one of the four asset management companies that the Government of China established in 1999 in response to the 1997 Asian financial crisis. On November 11, 1999, China Huarong was incorporated in Beijing as China Huarong Asset Management Corporation (Chinese: 中国华融资产管理公司), which was one of the four asset management companies as approved by the State Council of the People's Republic of China. In 2000, China Huarong began acquiring a Non-performing loan of RMB 407,696 million from the Industrial and Commercial Bank of China. The company later became a limited company: China Huarong Asset Management Co., Ltd. (Chinese: 中国华融资产管理股份有限公司) in 2012. More information...
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