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China Orient Asset Management gets approval to issue bonds to resolve risks in property sector

SHANGHAI : China Orient Asset Management stated on Friday it was accredited to issue up to 10 billion yuan bonds in China’s interbank bond market to resolve risks in the property sector.

China Orient is one in every of China’s 4 large asset administration firms (AMCs) that have been initially arrange to get rid of non-performing loans from main state banks.

China’s monetary regulators met with the nation’s main unhealthy mortgage firms final month to examine how such AMCs can take part in builders’ asset disposals.

(Reporting by Jason Xue and Andrew Galbraith; Editing by Shri Navaratnam)

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