Chinese insurance group Anbang has threatened legal action against a leading investigative magazine over what it called “slanderous” allegations about financial irregularities and the marital status of its chairman, in the latest sign of the intensifying power struggle in the financial sector.
Anbang, which has curbed its long acquisition spree amid heightened capital controls, said in a statement on Sunday that Caixin had “forged rumours” that chairman Wu Xiaohui, who married the granddaughter of former paramount leader Deng Xiaoping, was divorced.
It accused the magazine, which is run by respected editor Hu Shuli, of discrediting the company’s legitimate business interests, as well as damaging Mr Wu’s reputation.
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