China Toxic-Asset Management Firm Goho Says It’s Resolving Debts

Goho Asset Management Co., a distressed-asset management firm backed by the government of China’s Anhui province, has resolved outstanding debt obligations through mediation or repayment, according to a post on its Wechat account published on Friday.

The company, which has 4.96 billion yuan ($694 million) under management, acquires and restructures distressed assets to rescue troubled businesses and mitigate financial risks, according to its 2022 annual report.

The announcement came shortly after shadow-banking giant Zhongzhi Enterprise Group Co. filed for bankruptcy on Friday evening. China’s property crisis continues to wreak havoc on the world’s second-largest economy.

Chinese media reported Goho ...