Nervous investors dumped shares and bonds of Dalian Wanda Group Co. today, as reports of elevated regulatory scrutiny regarding the company's overseas borrowings caused widespread panic. Shares of Fosun International, named as among a number of companies whose overseas debt are being investigated by regulators, also tumbled, along with its pharmaceutical unit.
Chinese banks have been required by the China Banking Regulatory Commission to report their exposure to debt related to Wanda, Fosun, Anbang Insurance Group Co. and HNA Group, the most prolific Chinese acquires globally during the past couple of years. The regulators are concerned over hidden financial risks related to their aggressive overseas acquisitions.
Just last week, Anbang said its chairman Wu Xiaohui can no longer fulfill his duties for personal reasons, confirming earlier ru...
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