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Top related persons:
Tian Huiyu - 1 Xi Jinping - 1 Tian - 1 Wang Qishan - 1 ” - 1 Li Xiaopeng - 1 Liu Liange - 1 Bao Fan - 1
Top related locs:
China Hong Kong Changde city Hunan China’s Shanghai Changde Xinhua
Top related orgs:
Hong Kong CNN - 1 China Merchants Bank - 1 China Construction Bank - 1 China Cinda Asset Management - 1 Beijing - 1 Communist Party - 1 Central Commission - 1 Communist - 1

Search resuls for: "China Cinda Asset Management"


3 mentions found


☆ China gives suspended death sentence to Tian Huiyu, former China Merchants Bank president
  + stars: | 2024-02-06 | by ( Laura He | ) edition.cnn.com   time to read: +3 min
The court said he had used his privileged access to information to make more than 290 million yuan ($41 million) in illegal gains from the stock market. He also leaked inside information about stocks to other people, which yielded more than 8 million yuan ($1.1 million) in illicit profits, it said. In return, he accepted bribes worth more than 210 million yuan ($30 million), it said. In 2013, Tian was promoted to head China Merchants Bank, serving as its president and its Communist Party boss. The Communist Party has stepped up its crackdown on the country’s state-owned financial system since last year.
Persons: Tian Huiyu, Xi Jinping, Tian, Wang Qishan, ”, Li Xiaopeng, Liu Liange, Bao Fan, Bao Organizations: Hong Kong CNN, China Merchants Bank, China Construction Bank, China Cinda Asset Management, Beijing, Communist Party, Central Commission, Communist, Adobe, China Everbright Group, Bank of China, China Renaissance Locations: China, Hong Kong, Changde city, Hunan, China’s, Shanghai, Changde
☆ China plans to merge 3 bad debt asset managers with its largest sovereign wealth fund, state media reports
  + stars: | 2024-01-29 | by ( Clement Tan | ) www.cnbc.com   time to read: +1 min
The plan to put China Cinda Asset Management , China Orient Asset Management and China Great Wall Asset Management under the jurisdiction of one of the world's largest sovereign wealth funds by assets will happen "in the near future," Xinhua added, without providing any further details. Beijing's actions follow a stock market rout amid burgeoning financial risks stemming from a debt crisis in its real estate sector. Last week, China's central bank announced its largest cut in mandatory cash reserves for banks since 2021. The property market slumped after Beijing cracked down on developers' high reliance on debt for growth in 2020, weighing on consumer growth and broader growth in the world's second-largest economy. China's real estate troubles are closely intertwined with local government finances since they typically relied on land sales to developers for a significant portion of revenue.
Persons: Beijing's Organizations: China Investment Corp, Xinhua, Asset Management, China Orient Asset Management, Wall Asset Management Locations: China, Xinhua, Beijing
☆ China may have to bail out one of its poorest provinces
  + stars: | 2023-04-27 | by ( Laura He | ) edition.cnn.com   time to read: +9 min
Hong Kong CNN —One of China’s poorest and most indebted provinces has admitted defeat in trying to sort out its finances and is appealing to Beijing for help to avert default. Guizhou, located in a mountainous region of southwest China, has hired a top state-owned distressed debt fund, China Cinda Asset Management, to resolve its “urgent” problems. China’s local governments are struggling with trillions of dollars of debt, after three years of strict pandemic controls and a real estate crash drained their coffers. The Pingtang Bridge links two cities in southwest China's Guizhou province. In China, most local government liabilities are composed of “hidden debt” issued by their financing arms.
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