baoneng

Beijing cracked down on domestic insurers last week, suppressing the industry over what it called reckless investing practices and driving down the Shanghai Composite Index 3 percent.

The ongoing battle for future of China Vanke Co. Ltd., the world’s biggest residential real estate developer, took a fresh turn as conglomerate Evergrande has emerged as a third major investor in the company.

Beijing cracked down on domestic insurers last week, suppressing the industry over what it called reckless investing practices and driving down the Shanghai Composite Index 3 percent.

The ongoing battle for future of China Vanke Co. Ltd., the world’s biggest residential real estate developer, took a fresh turn as conglomerate Evergrande has emerged as a third major investor in the company.