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China Huarong: Building a Digitized Cornucopia

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Established in October 1999, China Huarong Asset Management Corporation is a wholly state-owned financial institution approved by the State Council, with registered capital of RMB10 billion. Headquartered in Beijing and operating in 32 offices across the country, China Huarong has 10 platform companies providing service to 30 provinces, municipalities and autonomous regions. Thanks to a decade of successful operation and development, China Huarong has completely accomplished its policy-oriented asset disposal mission and made a huge contribution to the healthy and stable development of society and the economy. Specifically, this contribution shows in the promotion of the reform and development of state-owned commercial banks, relieving debts and difficulties for state-owned enterprises and maintaining the stable operation of the financial system to minimize the country’s losses.