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flag China plans to merge its top 3 state-owned bad debt asset managers into China Investment Corp as part of financial institution reforms.

flag China plans to merge three of its largest state-owned bad debt asset managers, China Cinda Asset Management, China Orient Asset Management, and China Great Wall Asset Management, into the country's $1.24 trillion sovereign wealth fund, China Investment Corp (CIC). flag This move is part of China's ongoing plan to reform financial institutions. flag The extent of the transfer of the three asset managers was not specified in the report.

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