Beijing to punish Wanda for breach of investment rules
Beijing
CHINA plans to punish billionaire Wang Jianlin's Dalian Wanda Group Co for breaching the nation's restrictions on overseas investments by cutting off funding and denying the conglomerate the necessary regulatory approvals, according to people familiar with the matter.
The government has found violations of China's restrictions in six investments, four of which have been completed and two are still pending, according to the people, who asked not to be identified because the matter is private.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
S&P Global first-quarter profit beats estimates on strong product demand
Thai banks cut rate for some borrowers after push from PM
Money laundering accused who faces 22 charges to plead guilty on May 14
BNP Paribas beats estimates as lower costs offset trading slump
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover