CIRC, PBOC, CBRC, CSRC, SAFE to take over the group for the year
Untangling that alphabet soup...
CIRC = China Insurance Regulatory Commission
PBOC = People's Bank of China
CBRC = China Banking Regulatory Commission
CSRC = China Securities Regulatory Commission
SAFE = State Administration of Foreign Exchange
Anbang group is in all sorts of trouble - collapsing revenues, prosecutions etc. - and has been for a good while. If there are systemic risks in China, Anbang was one of them.
The company operates in insurance, banking, and financial services
To the extent this was a risk the bailout will be a positive for 'risk' - AUD for example
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Protip - if you are going to a google search for Anbang, spell it carefully and correctly
