Property News · July 18, 2017

Sunac becomes the latest to be scrutinised by China regulators


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.
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Source : South China Morning Post
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