Shares Plunge as China Voices Concern Over ‘Systemic Risks’<br />By SUI-LEE WEEJUNE 22, 2017<br />BEIJING — Some of China’s largest companies may pose a systemic risk to the country’s banks, a senior banking official said on Thursday, in the latest signal<br />that Beijing is ratcheting up scrutiny of a financial system plagued with hidden debt that poses a hazard to the health of the economy.<br />They included the publicly traded arms of Fosun International, which in recent years bought the Club Med chain of resorts<br />and other properties; Dalian Wanda, which owns the AMC Theaters chain in the United States and has long sought deals in Hollywood; and the HNA Group, an acquisitive conglomerate with murky ownership.<br />At a briefing on Thursday in Beijing, Mr. Liu, deputy head of the commission’s prudential regulation bureau, said<br />that his agency was looking into “systemic risk of some large enterprises,” according to numerous media accounts, and that the risk could spread to other institutions.<br />Anbang, which rose to prominence in recent years for big deals including its purchase of the<br />Waldorf Astoria hotel in New York, had been under official pressure over how it raises money
