ICBC's Huarong Bonds Extended for 10 Years
Industrial and Commercial Bank of China had the bonds it bought from Huarong Assets Management Co. extended for 10 years, according to a statement by the Beijing-based lender.
The Ministry of Finance has informed ICBC that it would provide support to China Huarong over the payment of the principal and interest of a 313 billion yuan bond issued to ICBC, according to the statement.
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