Business
21:54, 22-Jun-2017
China’s banking regulator orders checks on loans to acquisitive firms, sources say
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The China Banking Regulatory Commission (CBRC) has ordered a group of commercial banks to assess their exposure to offshore purchases by a handful of acquisitive Chinese corporate groups, according to two people familiar with the matter on Thursday.
One of the sources said that the companies include Zhejiang Luosen, HNA Group, Dalian Wanda, Anbang Insurance and Fosun International.
The CBRC issued the order as it moves to better control potential risks as domestic companies acquire more offshore assets. Shares in several companies whose loans the banks were asked to assess fell sharply on Thursday.