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China Says Huarong Operations Are Normal, Liquidity Ample

China Huarong’s Worsening Bond Rout Stokes Market Contagion
Photographer: Lam Yik/Bloomberg
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China’s financial regulator said operations at China Huarong Asset Management Co. are normal and the company has ample liquidity, marking the first official comments aimed at easing investor concerns over the financial health of the nation’s largest bad-debt manager.

The state-owned company is actively cooperating with its auditor and will complete its annual report as soon as possible, the China Banking and Insurance Regulatory Commission said in a statement. Huarong’s dollar bonds climbed, extending their rally from record lows on Thursday.