China Business & Economy

Downfall of China’s Insurance and Energy Giants Shows New Direction of Anti-Corruption Campaign

Downfall of China’s Insurance and Energy Giants Shows New Direction of Anti-Corruption Campaign
Members of the Chinese police stand guard in Beijing, China, on Nov. 17, 2009. Saul Loeb/AFP/Getty Images
Annie Wu
|Updated:
The owners of the Waldorf Astoria hotel and a condo in the Trump World Tower in New York are in deep trouble.
Former chairman of China’s Anbang Insurance Group Co., Wu Xiaohui, has been accused of swindling 65.2 billion yuan ($10.4 billion), during a high-profile trial on March 28. Anbang owns the Waldorf-Astoria.
Annie Wu
Annie Wu
Author
Annie Wu joined the full-time staff at the Epoch Times in July 2014. That year, she won a first-place award from the New York Press Association for best spot news coverage. She is a graduate of Barnard College and the Columbia University Graduate School of Journalism.
twitter