China’s banking regulator has ordered commercial banks to scrutinise the credit exposure of Sunac China, the aggressive property developer which just took over the hotel and tourism portfolio worth US$9.3 billion from magnate Wang Jianlin’s Wanda Group.
Banking sources said banks had received a verbal order from the China Banking Regulatory Commission (CBRC) to conduct the check on Sunac, the country’s seventh largest homebuilder controlled by Shanxi tycoon Sun Hongbin.
A…
Source : South China Morning Post
Read more…Sunac becomes the latest to be scrutinised by China regulators















