China Huarong Delays Release of 2020 Results Past Deadline

Huarong Asset Management, China's largest distressed debt manager, is facing financial difficulties, having missed deadlines for publishing earnings results. This has led to market jitters and a review of its debt ratings by major agencies. Chinese regulators are considering options such as transferring stakes to a sovereign wealth fund or restructuring the company to avoid debt issues. The People's Bank of China may also intervene by taking on some of Huarong's debt. With $42 billion in bonds outstanding, a solution is urgent.

What was the amount of debt that the PBOC might take on to assist Huarong?

What are the implications of Huarong's outstanding bonds due by the end of 2022?