China Deploys Asset Management Giants in Cleaning Up Small Banks

China’s top banking regulator is pressing the government’s giant asset management companies to play a greater role in reducing risks related to nonperforming assets of small and medium-sized banks, Caixin learned from people close to the matter.

The China Banking and Insurance Regulatory Commission (CBIRC) issued new rules for asset management companies (AMCs) in acquiring and disposing of such assets and participating in the design of restructuring plans for the banks, the people said.