China pulls report on merger of ‘bad banks’ with SWF

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Chinese state media has deleted a report stating that the government was planning to merge three of its biggest “bad banks” with the country’s largest sovereign wealth fund.

Xinhua Finance News had published the report on its website on January 28, but it was no longer accessible by the afternoon of the following day.

The report cited unidentified sources as saying China Cinda Asset Management, China Orient Asset Management and China Great Wall Asset Management could be incorporated into China

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