Bad loans mean good H1 results for AMCs

Asset managers see profits soar by about 50% as property market cools

Chinese bad-debt managers saw a profit surge in the first half, helped by an increase in banks' bad loans.

China Huarong Asset Management Co Ltd's first-half profit jumped 57 percent to 11.8 billion yuan ($1.91 billion), while that of China Great Wall Asset Management Co Ltd increased 45 percent to 5.6 billion yuan.