China Huarong chairman says in talks with potential new strategic investors

Reuters2021-08-30

SHANGHAI, Aug 30 (Reuters) - Chinese bad-debt giant China Huarong Asset Management is in talks with potential new domestic and foreign strategic investors, its chairman said in Monday.

Speaking on an earnings call after the company announced a $16 billion loss for 2020, Wang Zhanfeng said many investors continue to have faith in Huarong. Earlier this month, the troubled company announced a state-backed rescue plan.

(Reporting by Cheng Leng and Andrew Galbraith; Editing by Kim Coghill)

((Andrew.Galbraith@tr.com; +86 21 2083 0079; Reuters Messaging: andrew.galbraith.thomsonreuters.com@reuters.net ; Twitter: ))

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