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Troubled Anbang
Former high-flying insurer Anbang is suffering under a pile of debt after a global buying spree that included New York's storied Waldorf Astoria hotel.
An Era Ends at Anbang as Founder Sentenced to Prison
Court suspends Wu Xiaohui's political rights for four years, confiscates $1.7 billion
Five Things to Know About the Dismantling of Xiao Jianhua’s Tomorrow Holding
The seizures of nine companies linked to the conglomerate mark a major step in regulators’ efforts to unravel fallen tycoon’s financial empire
China Banking Watchdog to Levy Biggest Banking Fines in Years
Two banks will each be fined more than 100 million yuan in a sign CBIRC is getting tough on rule breakers
Update: China Seizes Multibillion-Dollar Firms Controlled by Fallen Tycoon
Regulators’ takeover of 9 companies with $171.5 billion of assets continues massive unwinding of Xiao Jianhua’s troubled financial empire
China Business Digest: Services PMI Notches Biggest Expansion in a Decade; Citic Securities, CSC Financial Again Deny Merger Report
Securities commission issues rules covering refinancing on STAR Market; beverage giant Wahaha considers $1 billion IPO, joining the rush to Hong Kong
Government Overhaul of Chengdu Rural Bank Nears Completion
City appoints new party secretary and president after taking control of lender in April
Anbang’s Takeover Group Leader Nominated as Chairman of Successor Dajia
As regulator-driven restructuring of debt-ridden Anbang winds down, authorities move to convert takeover group into legal management of newly created Dajia Insurance
China Business Digest: South Korea Sees New Covid-19 Spike; Chinese Mainland Reports No New Cases
Premier says Covid-19 relief funds should go to companies and individuals in need; China has ‘positive and open attitude’ toward joining CPTPP
Panama Shipper Seeks to Wind Up Debt-Ridden HNA Group, Again
Hong Kong court petition adds to woes of a former high-flying conglomerate facing a pandemic-driven cash crunch while buried under a mountain of debt
Bank of China Executive Gao Yingxin May Lead China Minsheng Banking
Gao departs from Bank of China’s Hong Kong unit as of Monday, signaling a move that could ease tensions among Minsheng management, shareholders and banking regulators, insiders say
China’s Dajia Wins Fast-Track Trial for Suit Over Failed U.S. Hotel Deal
Dajia said it has satisfied all terms of the sale. But Mirae cited a myriad of reasons why it can’t close, including hotel shutdowns caused by the Covid-19 virus
Anbang Unit Sues Mirae to Complete $5.8 Billion Hotel Deal
Beijing-based insurer sues South Korean firm over deal to purchase portfolio of U.S. luxury hotels
China Business Digest: U.S. Crude Crashes Below Zero; Shenzhen Checks Business Relief Loans Used to Buy Houses
Producers would have to pay to unload oil amid demand slump; Hubei’s Jingzhou tries to restart housing market after Covid-19; China’s governments record steepest revenue drop on record
Financial Giant Anbang to Sell Rural Bank Back to Local Government
Chengdu government to regain control of lender once deal is sealed
Caixin China Biz Roundup: Investigation Special — How China’s Regulators Dismantled a Financial Empire
This special edition focuses on the state's two-year takeover of Anbang Insurance, whose debt-fueled expansion triggered concerns about the threats it posed to the stability of the financial system.The episode reveals how regulators strived to clear up the financial mess and turn the rest of the company into a viable business
In Depth: How China’s Regulators Dismantled a Financial Empire
Anbang Insurance, brought down by the hubris of its founder, Wu Xiaohui, has undergone radical surgery and is now ready for a new life under new management
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