China's four state-owned asset management corporations handled
non-performing assets (NPA) totaling 509.37 billion yuan (about
US$61.4 billion) by the end of 2003, said the China Banking
Regulatory Commission in Beijing on Sunday.
The four corporations?-- the Huarong, Oriental,
Cinda and Great
Wall, have recovered in cash bad assets worth 99.41 billion yuan so
far, according to statistics from the China Banking Regulatory
Commission.
The Huarong company has handled NPAs worth 136.04 billion yuan
with cash of 29.37 billion yuan recovered, the Great Wall company
handled NPAs worth 165.24 billion yuan with 15.8-billion-yuan cash
recovered, the Oriental handled NPAs worth 86.65 billion yuan
with16.45-billion-yuan cash recovered, and the Cinda handled NPAs
worth 121.43 billion yuan with 37.79-billion-yuan cash
recovered.
China set up the four asset management companies in 1999, which
were responsible for handling the NPAs bought from the four big
state-owned commercial banks and the State Development Bank.
(Xinhua News Agency January 19, 2004)