ONE JOINT VENTURE COMPANY APPEARS IN NON-PERFORMING ASSET REALM

AsiaInfo Services, November, 2001

AsiaInfo Services 11-21-2001 One Joint Venture Company Appears In Non-Performing Asset Realm CHINA, Nov 21, 2001 (AsiaPort via COMTEX) -- At present Cinda Asset Management Corporation and Goldman Sachs (ASIA) LLC have endorsed the cooperative agreement on founding a joint venture company to deal with non-performing assets in Beijing.

It's the first joint venture company in non-performing realm in China. According to the agreement, Goldman Sachs (ASIA) LLC and Cinda Asset Management Corporation will found the joint venture company by cash investment and non-cash asset investment respectively. The joint venture company will deal with non-performing commercial assets owned by Cinda Asset Management Corporation. The joint venture will run formally after it is...

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