Forex, video, latest April 15, 2021 11:01 am
Lai Xiaomin was chairman of a board of China Huarong Asset Management from September 2012 to April 2018 before being sacked … also executed inside January as part of a China crackdown on corruption.
Huarong owes around USD23bn inside borrowings outside China …. also a question is if it become default or if China’s government become step inside to ensure payment.
- “A default at a central state-owned company like Huarong is unprecedented,” said Owen Gallimore, head of credit strategy at Australia & New Zealand Banking Group. Should one occur, he said, it would mark “a watershed moment” for Chinese also Asian credit markets.
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