According to government records, that office is home to two companies with a total stake that accounts for more than $15 billion in assets of one of China’s biggest financial conglomerates: the Anbang Insurance Group. “We’re just a private company, helping others register with the State Administration for Industry and Commerce,” she said, referring to the keepers of China’s corporate database. Many of those companies are in turn owned by a welter of shell companies, many with similar names and addresses or common owners. The country’s online corporate records system allows those with patience to find the names behind the holding companies, even if — as with Anbang — the corporate shareholders frequently change names, addresses and owners. Back at the Hujialou Concentrated Office Zone, one of the Anbang shareholders there, a company called Beijing Bibo Investment Management Company, controls $10.9 billion in Anbang assets.

Source: New York Times September 01, 2016 22:02 UTC