Variety – China Blocks Banks From Lending to Wanda for Overseas Deals (Report)

The Chinese crackdown on foreign deal-making hits a new gear as the bi-decade CPC leadership shuffle rapidly approaches.

July 17, 2017

‘China’s financial regulators have blocked the country’s banks from making loans to Dalian Wanda to finance its foreign acquisitions, including entertainment assets such as Legendary Entertainment, it was reported Monday.

The Wall Street Journal said that banking sector regulators met with executives from large state-owned banks on June 20 and told them that six of Wanda’s foreign acquisitions were subject to capital controls imposed by the government last year.’

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