China Asks Citic Group to Examine Huarong’s Finances
Charlie Zhu, Zheng Li, Jun Luo, and Heng Xie, 28 June 2021
China has asked one of its biggest state-owned conglomerates to examine the finances of China Huarong Asset Management Co., people familiar with the matter said, adding a new twist to the drama that has roiled the world’s second-largest credit market for months.
Citic Group, whose businesses span everything from banking to securities and mining, recently dispatched a team to Huarong to pore over the embattled distressed-debt manager’s books, the people said, asking not to be identified discussing private information. Continue reading “Article: China Asks Citic Group to Examine Huarong’s Finances”
