Wu Xiaohui, the billionaire chairman of the acquisitive Chinese insurer Anbang, has been barred from leaving China, according to four people who have had business dealings with him.
Anbang has emerged as one of the most active Chinese companies overseas, purchasing $6bn in assets abroad in 2016 alone, but its ambitions have recently been curtailed by Beijing’s efforts to clamp down on capital flight. The company is simultaneously embroiled in a fierce tussle for power between political factions.
An Anbang spokesman on Friday denied that Mr Wu had been barred from leaving the country. “It’s just a rumour. It’s not true,” he said.
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