Business / Economy

Huarong posted 19.1 billion yuan profit in 2013

By Hu Yuanyuan ( Updated: 2014-01-24 18:57

China Huarong Asset Managment Co Ltd, one of the country's four major asset companies, realized a profit of 19.1 billion yuan ($3.15 billion) last year, the company said in an e-mailed statement on Friday.

That is an increase of 59 percent from 2012, and 282 percent more than 2011.

The company's total assets were valued at 400.8 billion yuan, making it the most valuable of the four asset companies. The companies were set up in 1999 to deal with non-performing loans from banks. The other three are China Cinda Asset Management Co Ltd , China Great Wall Asset Management Corp and China Orient Asset Management Corp.

The emphasis in 2014 will be on balance between growth and efficiency, company Chairman Lai Xiaomin said.

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