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Beijing targets China's biggest overseas deal-makers

Wanda, Fosun, others under investigation; shares nonetheless rebound

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  © Reuters

HONG KONG/TOKYO -- Shares in companies related to entertainment giant Dalian Wanda, consumer group Fosun International and conglomerate HNA rebounded on Friday. They had plunged on Thursday after reports that China's banking regulator was conducting checks on the borrowings of some of the country's biggest overseas deal-makers.

According to several foreign news outlets, the China Banking Regulatory Commission has instructed banks to examine their exposure to a number of companies, including unlisted insurer Anbang. Authorities are believed to have detained Wu Xiaohui, chairman of Anbang, last week. Rossoneri Sports Investment Management Changxing, the new owner of Italian football club AC Milan, is also thought to be on the list.

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