Posted inChinaShanghai

Scandal-plagued Anbang gets $9 billion capital injection

China’s regulator has approved a 60.8 billion yuan (US$9.67 billion) capital injection for Anbang Insurance Group. The move comes after the government seized control of the debt-ladened company in February and its former chairman Wu Xiaohui admitted fundraising fraud involving more than $10 billion. The injection of cash from the Insurance Protection Fund will take […]