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China bails out Anbang

All about the standing of the Communist Party

China’s President XiJinping (Credit: ABC)

After seizing control of Anbang in February, the Chinese Government is injecting $9.7 billion into the company, according to Bloomberg

Heard on the Street: Shanghai-based Kaiyuan Capital explained that the function of the bailout is not only protecting the banks and those who invested in Anbang, but also the “standing of the Communist Party in the eyes of the general public.”

Kangaroo Court: Although former Chairman Wu Xiaohui apparently said that he regretted his crimes, it appears that China is punishing him for his poor investments.

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