China Huarong

China Huarong

China Huarong Asset Management Co., Ltd. (SEHK: 2799), is one of the four major state-owned financial asset management companies established in response to the Asian financial crisis and for resolving financial risks, promoting the reform of state-owned banks and providing bailouts for state-owned enterprises. China Huarong mainly engages in such business as distressed asset management, financial services, and asset management and investment, with the distressed asset management as its core business. At present, CITIC Group holds 23.46% of the shares of China Huarong.