Last week China’s banking regulator ordered lenders to report how much credit exposure they have to Anbang Insurance Group and three other conglomerates.
The China Banking Regulatory Commission said it was worried about “the systemic risk of some large enterprises”. The move adds to the problems facing Anbang, known for splashy purchases including the Waldorf Astoria hotel in New York.
This month, the group said its swashbuckling chairman Wu Xiaohui was “unable to perform his duties”, confirming reports that he was in detention. Meanwhile the China Insurance Regulatory Commission has banned Anbang from selling new products for three months.
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