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Politics

Anbang seizure shows China's resolve for financial stability

The move sends warning for other debt-laden conglomerates

Chinese regulators have seized control of financial conglomerate Anbang Insurance Group.   © Reuters

BEIJING/SHANGHAI -- China's de-facto takeover of Anbang Insurance Group shows the government will take any steps necessary to stave off shocks to the financial system, suggesting even tougher times await financial conglomerates with massive overseas portfolios.

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