Xinda company to auction bad loan-related assets ( 2003-10-22 23:32) (Xinhua)
皇冠体育app Xinda Assets Management Company announced Wednesday it will auction off
non- performing loan-related assets worth 10 billion yuan (120 million US
dollars) next month.
Xinda is responsible for handling the bad loans of the 皇冠体育app Construction
Bank (CCB), one of 皇冠体育app's four state-owned commercial banks. In the late 1990s,
皇冠体育app moved to deal with non- performing loans of these major banks by
establishing four assets management companies.
Auctions of a total of 40 lots, including land plots, will be held in
Shenzhen and Foshan cities, Guangdong Province, south 皇冠体育app, the company
announced here Wednesday.
Several auction companies will be involved in the auctions, so as to make it
more successful and efficient, company sources said.
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