Skip to main content

CHINA RAISES HEAT OVER FOREIGN INVESTMENT

Shares in two of China's biggest conglomerates, Fosun International and HNA, fell by about 6% on Thursday, amid rumours that banks had been ordered to assess their loan exposure to them.
Fosun bought Wolverhampton Wanderers football club last year, while HNA is Deutsche Bank's biggest shareholder.
Reports said the banking regulator had also told lenders to investigate loans to Anbang Insurance, Odeon UK cinema owner Dalian Wanda and Zhejiang Luosen.
All five are big overseas investors.
The conglomerates' other high profile acquisitions include Zhejiang Luosen buying AC Milan football club earlier this year.
HNA also owns airport services firm Swissport and airline caterer Gate Gourmet, and it has a 25% share in Hilton.
Anbang owns New York's Waldorf Astoria hotel.
Dalian Wanda's film division is the world's biggest cinema operator, and also owns the UCI chains in the UK.
Trading in Wanda Film Holding's shares was suspended after they fell by nearly 10% in Thursday trading. The company subsequently denied as "malicious speculation" rumours that some banks were offloading the company's bonds.
It said the shares would resume trading on Friday.
The China Banking Regulatory Commission (CBRC) had told lenders to conduct internal assessments of their credit-risk exposure to acquisitive companies, according to business magazine Caixin, quoting sources.
The CBRC has been attempting to stem the flow of money leaving China.
Last year China's companies invested $225bn (£178bn) overseas. The outflow has put pressure on the currency, the renminbi, and drained foreign exchange reserves.

Comments

Post a Comment

Popular posts from this blog

DAISY's DESTRUCTION

Daisy's tale by Eillen Ormsby
Post a Comment
more»

Trump: I did not record ex-FBI chief James Comey

US President Donald Trump says he did not make secret recordings of ex-FBI chief James Comey despite an earlier hint to the contrary. " video " He said in a tweet: "I did not make, and do not have, any such recordings." Days after he fired Mr Comey in May, the president had tweeted: "James Comey better hope that there are no 'tapes' of our conversations..." He has been under pressure to produce the tapes amid inquiries into alleged Russian meddling in the election. The House Intelligence Committee had earlier this month asked the White House to hand over any such recordings. James Comey was heading the FBI inquiry into alleged Russian interference in last year's presidential election, and whether the Trump team had any links to Moscow, when he was fired on 9 May. In the days that followed, a succession of stories appeared in US newspapers with allegations surrounding a private meeting Mr Trump had with Mr Comey in the Oval...
Post a Comment
more»

Why Won’t My Xbox 360 Read Game Discs? You May Have Overlooked Something.

For what you pay for an Xbox, there’s a lot that seems to go catastrophically wrong. Red ring of death, DVD drive failures, and excessive overheating come to mind. Today’s frustration focuses on a more in-depth problem: why won’t my Xbox 360 read game discs? The game disc looks clean, so why is it still skipping and freezing?  If you’re like me, you’ve taken your Xbox apart, wrapped towels around it, and sacrificed a baby lamb to the YouTube gods in hopes a twelve year old’s how-to video will end your misery. All in a last-ditch effort to just play Call of Duty 47. You could send it in to Microsoft, but then that usually requires 2-4 weeks of no Xbox. Which is just not going to be an option. You’re resourceful. There’s no easy way to get inside and scrub that sucker with Windex and a paper towel, but you’re the determined type who doesn’t want to risk not being able to play GTAV every hour of every day. Just how does a laser lens work, anyway?
Post a Comment
more»