CHINA-ECONOMY: PRESIDENT OF BAD DEBT MANAGER CHINA GREAT WALL ASSET MGT. CO. LTD APPOINTED PRESIDENT OF HUARONG

Caixin (June 4) reported that Liang Qiang, the new president of bad-debt manager China Great Wall Asset Management Co. Ltd., was named deputy Communist Party chief of troubled China Huarong Asset Management Co. Ltd. on June 4. Citing sources it said the appointment was announced by officials from the China Banking and Insurance Regulatory Commission (CBIRC), the country’s top banking regulator, at an internal Huarong meeting in Beijing. Liang Qiang is also likely to take the job as Huarong’s president after going through the necessary procedures, they said.





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