BIZCHINA / News |
ICBC to acquire Huarong Asset Management(Shanghai Daily)Updated: 2007-06-18 13:22 ![]() Senior management of ICBC and Huarong are exploring new ways to cooperate, the official newspaper said, without providing more details, according to Bloomberg. Rival Bank of China and Orient Asset Management Co in April agreed to work together in bad loan disposal, credit-rating, insurance and asset management, the paper said.
The companies, which got a combined 1.4 trillion yuan (US$184 billion) of non-performing loans at inception, were required to finish the disposal by the end of 2006. (For more biz stories, please visit Industry Updates) |