Among the big questions now are who will eventually own the business, and whether it sell assets to improve its finances. Anbang’s purchases during a reported $30 billion acquisition spree in recent years include New York’s Waldorf Astoria. China’s government said in February regulators had taken over Anbang’s operations, would run the company due to financial risk for 12 months, and seek private sector shareholders. Financial Risk CrackdownWu's conviction comes amid a crackdown on financial risk at home and concern about the country’s debt. Anbang said on April 4, had raised money from the China Insurance Security Fund to maintain stable operations.

Source: Forbes May 10, 2018 07:27 UTC