Economics
Anbang Shows Billionaires Should Be Nervous in Xi's New China
- Insurance giant’s chairman mysteriously absent from company
- Xi targets financial risk, asserts power before party congress
Anbang Says Wu Xiaohui Unable to Perform Duties
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China’s billionaires are learning yet again that wealth and power are no longer enough to keep them out of trouble.
Anbang Insurance Group Co. said Tuesday that Wu Xiaohui -- its chairman, and one of China’s most aggressive overseas dealmakers -- was unable to perform his duties for personal reasons. Caijing Magazine, a reputable finance and business publication, said he was taken away for questioning.