2014-11-26

Local Govt Bad Debt Cleanup Continues

All is well, don't mind the bad banks behind the curtain.
China approves second batch of local asset management companies
The mainland banking regulator has approved a second batch of asset management companies tasked with cleaning up debt at the city and provincial level, bringing the number of formally approved "bad banks" to 10.

The China Banking Regulatory Commission cleared governments in Beijing, Chongqing, Tianjin, Fujian and Liaoning to set up AMCs, state-backed Economic Information said on its website yesterday. The second wave of approvals comes after Zhejiang, Jiangsu, Anhui, Guangdong and Shanghai established locally controlled firms in July.

No comments:

Post a Comment