The logo of China Huarong Asset Management Co is seen at its office in Beijing, China, April 16, 2021. REUTERS/Thomas Peter Acquire Licensing RightsSINGAPORE, Nov 16 (Reuters Breakingviews) - What’s better than cleaning up your battered brand? That’s the view of China Huarong Asset Management (2799.HK), one of the country’s four so-called bad banks created after the 1997 Asian financial crisis to buy soured loans from state-owned lenders. Late on Wednesday, it renamed itself “China CITIC Financial Asset Management” after its top shareholder, state-owned financial conglomerate CITIC group. Now that Huarong has taken up the CITIC brand, the state’s support of the bad bank has more at stake if its troubles don't go away.

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Persons: Thomas Peter Acquire, Lai Xiaomin, Huarong, Yawen Chen, Francesco Guerrera, Thomas Shum Organizations: Asset, REUTERS, Rights, Reuters, Asset Management, HK, Financial, Management, CITIC Ltd, CITIC, X, Goodyear, Alstom, Thomson Locations: China, Beijing, Rights SINGAPORE, Huarong, CITIC's Hong Kong