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China Xinda Assets Management Company announced Wednesday it will auction off non- performing loan-related assets worth 10 billion yuan (120 million US dollars) next month.

Xinda is responsible for handling the bad loans of the China Construction Bank (CCB), one of China's four state-owned commercial banks. In the late 1990s, China moved to deal with non- performing loans of these major banks by establishing four assets management companies.

Auctions of a total of 40 lots, including land plots, will be held in Shenzhen and Foshan cities, Guangdong Province, south China, the company announced here Wednesday.

Several auction companies will be involved in the auctions, so as to make it more successful and efficient, company sources said.

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