July 25, 2019 / 9:07 AM / 3 months ago

China Orient AMC says to invest $18 bln in NPL purchases in 2019

BEIJING, July 25 (Reuters) - China Orient Asset Management Co Ltd said on Thursday it plans to invest 125 billion yuan ($18.18 billion) in buying non-performing loans and 20 billion yuan in market-based debt-to-equity swaps this year.

The company is in talks with multiple foreign partners to set up collaborative platforms following the opening up of China’s asset management sector, Chen Xiaokua, assistant president of China Orient AMC, told a news briefing in Beijing held by China’s banking and insurance regulator. ($1 = 6.8750 Chinese yuan renminbi) (Reporting by Cheng Leng and Beijing Monitoring Desk; Editing by Muralikumar Anantharaman)

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