BEIJING, Jan. 5 (Xinhua) -- China Huarong Asset Management Co., Ltd. opened its first subsidiary, named China Huarong (Macao) International Co., Ltd., in Macao recently, in a move to promote the company’s intenational expansion strategy and build a comprehensive financial services platform .
The registered capital of the new subsidiary amounts to 233 million patacas (about 29.2 million U.S. dollars).
Huarong Macao will specialize in management and investment advisory, enterprise management consulting, risk management and economic trade consulting as well as corporate management advisory.
Huarong is one of China’s four state-owned asset management companies set up in 1999 to tackle bad loans, the other three being Cinda, Great Wall and Orient.
The company was listed on the Hong Kong Stock Exchange in 2015. Enditem （Edited by Yang Yifan, yangyifan@xinhua.org）
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