Chinese Regulator Approves New Huarong President Liang
- Liang Qiang gets approval to take up role, people familiar say
- Caixin reported this week Liang didn’t accept the position
The China Huarong Asset Management Co. headquarters on Financial Street in Beijing on May 19.
Photographer: Yan Cong/BloombergThis article is for subscribers only.
China Huarong Asset Management Co. is on track to get a new president in the shape of Liang Qiang, who currently heads another bad-debt manager, according to regulatory officials familiar with the matter.
Liang’s appointment has been approved by the banking regulator’s Communist Party committee, said the officials, who asked not to be identified discussing a private matter. Liang’s recent promotion to president at China Great Wall Asset Management Co. doesn’t alter the plan to move him to a similar position at Huarong, the officials said.