Alibaba courts more China bad debt managers for online auctions

May 29 2015 5:43AM EST | Source: REUTERS Technology

HANGZHOU, China/BEIJING (Reuters) - Huarong Asset Management Co Ltd is poised to become the second Chinese bad loan firm to auction soured loans online amid a push by the government to settle these debts as the economy slows, an executive at e-commerce giant Alibaba Group Holding Ltd said.