Troubled Anbang

China Troubled Anbang News - Caixin Global

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

07 22, 2020 20:25 PM

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

07 20, 2020 19:44 PM

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

07 17, 2020 21:32 PM

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

07 03, 2020 23:11 PM

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

07 03, 2020 20:24 PM

Government Overhaul of Chengdu Rural Bank Nears Completion

City appoints new party secretary and president after taking control of lender in April

05 30, 2020 04:32 AM

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

05 29, 2020 23:09 PM

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

05 29, 2020 04:43 AM

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

05 26, 2020 06:39 AM

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

05 11, 2020 14:41 PM

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

04 28, 2020 15:50 PM

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

04 20, 2020 23:52 PM

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

04 20, 2020 19:50 PM

Financial Giant Anbang to Sell Rural Bank Back to Local Government

Chengdu government to regain control of lender once deal is sealed

03 13, 2020 18:25 PM

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

03 11, 2020 19:18 PM

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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