CDB Cancels Loans for Ping An Deal
(Beijing) – The Hong Kong branch of China Development Bank (CDB) has been ordered by its Beijing headquarters to cancel loans that would have been used to finance an acquisition involving the nation's second largest insurer, a source from the bank said.
The source said the decision was reached because of a Caixin report over the problematic financing of the deal.
- WeChat 'Glitch' Allows Family to Raise over 2 Million Yuan in 80 Minutes
- China's VAT Rebate Reform Aims to Boost Local Government Fiscal Strength
- Share Splits Raise Stock Market Suspicions
- China Faces Severe Coal Transport Capacity Shortage
- Audi Scraps Plans for New China Dealer Network
- Regions Found to Have 'Critical' Heavy Metal Emissions Now Clean Up Act
- Official PMI Spikes as Producer Prices Rise, Exports Surge
- China Adds 10% Consumption Tax for Superluxury Cars
- News Calendar, December 5-11
- Caixin's Manufacturing Indicator Dips to 50.9 in November
- Sign up to receive our free daily newsletter