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China Orient Asset Management gets approval to issue bonds to resolve risks in property sector -Breaking

by Mike Robinson

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© Reuters.

SHANGHAI, (Reuters) – China Orient Asset Management announced Friday that it has been approved for up to 10 Billion Yuan bonds to be issued in China’s interbank market. This will help to address risks related to the property sector.

China Orient is one the four largest asset management companies in China (AMCs). It was originally established to get rid of bad loans from state banks.

China’s financial regulators met last month with major Chinese bad-loan companies to discuss how AMCs could participate in asset dispositions by developers.

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