The Chinese regime has allegedly taken control of 299 private companies after it acquired the conglomerate Anbang Insurance Group, according to a source close to the company’s former chairman. Experts believe that the regime’s recent takeovers of private firms indicate that it is reining in these companies and desperately trying to raise capital as the country is facing an economic downturn.
In the aftermath of the sacking of Anbang chairman Wu Xiaohui, his mother has taken to social media to expose what has become of her once wealthy son and the successful private insurance conglomerate he headed.
