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China property rescue? Who are Ping An Insurance Group and Country Garden?

HONG KONG โ€” Chinese authorities have asked Ping An Insurance Group to take a controlling stake in embattled Country Garden, the nation's biggest private property developer, Reuters reported on Wednesday (Nov 8), citing sources familiar with the plan. A state-engineered rescue of Country Garden by Ping An would be one of the most significant interventions to date by China to...
Hong Kong New York United States Ping An Ma Mingzhe Alex Ren

Ping An Loses $3.1 Billion in Value on Country Garden Buy Report

(Bloomberg) -- A report that Chinese authorities asked Ping An Insurance Group Co. to rescue Country Garden Holdings Co. sent the insurer’s stock sliding, wiping out $3.1 billion from its valuation. Most Read from BloombergRockstar Plans to Announce Much Anticipated ‘Grand Theft Auto VI’US 30-Year Mortgage Rate Tumbles by Most in More Than a YearVIX Notches Its Longest Slide Since October 2015: Markets WrapVirginia Democrats Fend Off Republican Sweep in Win for Abortion Righ...
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Source: yahoo.com

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