Last week, it was learned that Lai Xiaomin, party secretary and chairman of China Huarong Asset Management Co., Ltd., is under investigation due to “severe disciplinary breaches.” Now news reports are emerging that the instigation is tied to the company’s financial backing of a private electrolytic manganese manufacturer Ningxia Tianyuan Manganese Industry Co., Ltd. Established in 2012, China Huarong is a state-owned non-banking financial institution approved by China’s State Council. The company was formerly known as China Huarong Asset Management Corporation, …

China Huarong’s Lai Xiaomin Said Investigated For Financing Private Company appeared first on China Money Network.