The government took over the insurance Chinese uncle Anbang

Anbang insurance group will go to China government management in a year, their founder was also indicted.

Chinese officials announced today will take over the insurance companies and insurance Anbang Xiaohui founder Wu prosecution for "economic crimes". You are the president of the company and was arrested in June last year.

Modern Anbang Wu, a series of deals to buy overseas assets, from Astoria (USA) to the insurance company in South Korea and Holland. Some possible price. They are typical examples of most aspiring M and an international Chinese.

Anbang performs a series of business M and an image in foreign fans.

However, from the beginning of last year, China officials have been aware of the huge financial risks. Therefore, they began to relax, just like the Anbang HNA company or group.

A team led by the insurance supervision committee (CIRC) member of the central bank and Chinese Chinese officials, bank, securities and foreign exchange management Anbang from today (23 / 2), in a formal notice. Business and responsibility of corporate debt will not be affected.

Illegal activities of the world watch may be a "serious threat" debt repayment ability of Companies in the Anbang, let the government take over. "Officials want to solve the problem of Anbang does not cause systemic risk, because economists at Commerzbank week - Comment" in considering gains and losses, this is the best way".

The report also said, "Anbang is still active and stable". CIRC will help find private capital to re structure bang. The current Anbang is about 200 billion NDT ($31 billion 600 million) of assets, have a lot of business sector, from the known life insurance, the county, financial leasing asset management, bank.

Today, China - President Xi Jinping and officials of the economic leading countries to determine the priority of financial risk control. Officials and Chinese bank insurance from last year announced a series of new rules to control the risk in the financial system.