Whether this crackdown on riskier loans and overseas investment will continue on past the august political reshuffle remains to be seen.
June 22, 2017
‘China’s banking regulator is conducting a sweeping check on the borrowings of some of the country’s top overseas deal makers, according to people with knowledge of the matter, in one of the most forceful attempts yet to get a grip on runaway debt.
The list covers some of the highest-flying private conglomerates in China, known for flamboyant owners, political connections and acquisitive appetites. One is Anbang Insurance Group Co., whose chairman Wu Xiaohui has been detained by investigators of economic crimes, according to people familiar with the matter.’