China Huarong Asset Management Co., Ltd., the biggest state-owned Chinese distressed debt management firms, has officially established a financial asset management company in Macau, to support the "One Belt, One Road" initiative, the company announced yesterday.
Huarong Macau, which has a registered capital of US$29.2 million, will leverage the parent company's network to serve the Greater China region on projects that fit the Belt and Road Initiative, a strategy proposed by Chinese president Xi Jinping that focuses on connectivity and cooperation among countries between China and the rest of Eurasia.
The Macau subsidiary will also take advantage of the Hengqin Fre...
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