CHINA Construction Bank (CCB), together with China Cinda Asset Management Corp., will hold an auction week to sell 8 billion yuan (US$963 million) worth of assets with debts against them.

　　The auction week is expected to be held from Oct. 28 to Nov. 3. It will be the first time in the country for a State-owned commercial bank to join hands with an asset management company to deal with bad assets, yesterday’s China Daily quoted a bank spokesman as saying.

　　Some bad assets, including purchased entities which firms do not have the cash to pay for, such as cars and pieces of real estate, will be sold to domestic and foreign investors during the auction week, the spokesman said.

　　In June, China Construction Bank, a State-owned firm, launched its first such auction, to sell off 4 billion yuan of mortgaged assets.

　　 (Xinhua)