China Forex Regulator Is Examining Top Dealmakers, Sources Say
A woman uses her phone as she walks past a foreign exchange outlet in Hong Kong on June 28, 2016. Hong Kong stocks ended slightly lower on June 28, unable to match an Asian rebound from last week's Brexit-fuelled selloff because of its exposure to Europe-linked companies. / AFP / ANTHONY WALLACE (Photo credit should read ANTHONY WALLACE/AFP/Getty Images)
Photographer: ANTHONY WALLACE/AFP/Getty ImagesChina’s foreign-exchange regulator is examining how some of the country’s biggest dealmakers used their domestic assets as collateral to get loans overseas, people familiar with the matter said.
The State Administration of Foreign Exchange recently began reviewing loan guarantees for Anbang Insurance Group Co., Dalian Wanda Group Co., Fosun International Ltd., HNA Group Co. and the Chinese owner of the AC Milan soccer team, the people said, asking not to be identified discussing private information. The regulator’s examination doesn’t mean the companies have done anything wrong, the people said.