China's Asset Management Corporations

@article{Fung2002ChinasAM,
  title={China's Asset Management Corporations},
  author={Ben Siu Cheong Fung and Guonan Ma},
  journal={BIS Working Papers Series},
  year={2002}
}
To address the banking system's non-performing loan (NPL) problem, the Chinese government set up four asset management corporations (AMCs). They were to buy up bad debts of the big four state-owned commercial banks and dispose of them over 10 years, taking a large step towards NPL resolution. But in their first two years, these AMCs have made only a limited contribution to resolution of the NPL problem. They have taken over less than half of the NPLs at the big four banks. In addition, while… 
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