Fitch rating agency has downgraded four Chinese National AMCs by one notch. Has placed three on rating watch negative. ***Chinese National Asset Management Companies (AMCs)Also known as the "Big Four" asset management companiesWere established in the late 1990s to handle non-performing loans (NPLs) of the major state-owned banks in ChinaTheir primary role was to purchase NPLs from Chinese banks, thereby helping to clean up the banks' balance sheets and improve their financial healthAMCs then managed these assets, attempted to recover their value, or restructure them as necessaryOver time, the scope of their activities has expanded beyond managing NPLs. The initial four were:China Huarong Ass
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