PBOC's new debt-clearing agency
4 August 2005
China will create the country's fifth debt-clearing agency this month to help the other agencies clear bad debt out of the banking system, state media reported, citing unnamed sources. The central bank-controlled the Huida Asset and Trustee Co would be responsible primarily for disposing of the central bank's bad debts and assets, similar to what the existing four debt-clearers are in the process of doing for the four largest state banks.
