The Chinese government intended Huarong Asset Management to be a janitor that cleaned up toxic debt. But following the bribery conviction and execution of its former chairman, things went from bad to worse. Read more about Huarong and its connection to the Chinese government in reporting by Bloomberg's Rebecca Choong Wilkins: https://www.bloomberg.com/authors/AT8YdRfOdJk/rebecca-choong-wilkins #Storylines #China #BloombergQuicktake -------- Like this video? Subscribe: null Become a Quicktake Member for exclusive perks: null Subscribe to Quicktake Explained: https://bit.ly/3iERrup QuickTake Originals is Bloomberg's official premium video channel. We bring you insights and analysis from business, science, and technology experts who are shaping our future. We’re home to Hello World, Giant Leap, Storylines, and the series powering CityLab, Bloomberg Businessweek, Bloomberg Green, and much more. Subscribe for business news, but not as you've known it: exclusive interviews, fascinating profiles, data-driven analysis, and the latest in tech innovation from around the world. Visit our partner channel QuickTake News for breaking global news and insight in an instant.