Deloitte’s China arm was fined a record CNY 212 million for "serious" deficiencies in its audit work for China Huarong Asset Management between 2014 and 2019.
March 20, 2023The PBOC will channel CNY 80 billion of loans through the bad debt managers, who are asked to match the amount with their own funds.
January 18, 2023The former president was abruptly removed from his post in April, after spending nearly nine years building CMB into China's top retail bank.
October 13, 2022Local governments will be allowed to relax interest rate floors for first-home buyers. Tax refunds are available for those selling their home to buy a new one.
October 4, 2022Greenland Holdings has secured CNY 3 billion in loans. Yanggo Group will receive help from China Huarong Asset Management to restructure its debt.
August 12, 2022China's large state-owned asset management companies are asked to play a greater role in reducing the risks from non-performing assets at small and medium-sized banks.
June 13, 2022About 12 developers will be supported by banks and distressed debt managers in the first wave of the programme.
April 28, 2022Following inspections that began last October, financial regulators and state owned institutions have been directed to rectify problems identified.
March 5, 2022Lenders are being asked to accelerate lending to homebuyers and developers. Bad debt managers are being asked to buy up property assets and help restructure smaller lenders.
February 25, 2022Inspection teams will be dispatched to the PBOC, CBIRC, CSRC, stock exchanges, and state-owned banks and asset managers to identify corruption.
October 13, 2021