Caixin
Jul 06, 2018 08:11 PM
FINANCE

Special Fund Established to Help Firms Exit Bankruptcy

Cinda, one of China’s big four asset management companies, registered a $1.5 billion special fund to help companies accelerate their exit from bankruptcy. Photo: VCG
Cinda, one of China’s big four asset management companies, registered a $1.5 billion special fund to help companies accelerate their exit from bankruptcy. Photo: VCG

One of China’s big four asset management companies set up a special fund earlier this year to help troubled companies accelerate bankruptcy proceedings.

China Cinda Asset Management Co. Ltd. registered the 10 billion yuan ($1.5 billion) special fund with the goal of helping companies accelerate their exit from bankruptcy by providing liquidity to help them pay off their debts, Liang Qiang, assistant to the president of Cinda, said during a regular briefing of the China Banking and Insurance Regulatory Commission.

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