CBIRC ASKS CHINESE BANKS NOT TO WITHHOLD LOANS TO HUARONG

Highlights –

• CBIRC asks Chinese banks not to withhold loans to Huarong.
• Huarong is reportedly one of China's four biggest distressed asset management companies.
• Huarong and its subsidiaries reportedly have outstanding offshore bonds worth $22.39 billion.
• Huarong currently is troubled by an offshore bond selloff and a suspension in its shares.

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