The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
China’s foreign-exchange regulator is examining how some of the country’s biggest dealmakers used their domestic assets as collateral to get loans overseas, people familiar with the matter said.
The State Administration of Foreign Exchange recently began reviewing loan guarantees for Anbang Insurance Group Co., Dalian Wanda Group Co., Fosun International Ltd., HNA Group Co. and the Chinese owner of the AC Milan soccer team, the people said, asking not to be identified discussing private information.
The regulator’s examination doesn’t mean the companies have done anything wrong. It will see whether the companies falsified information or inflated the value of their assets to receive guarantees.