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Chinese authorities forbade banks finance Dalian Wanda’s deals

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Chinese authorities forbade banks finance Dalian Wanda’s deals

Chinese regulators met representatives of the largest banks to prevent from financing the deals of the Dalian Wanda Group company, Interfax reports.


According to an unidentified source, the measures are taken in connection with the Chinese authorities’ effort to restrict the outflow of funds abroad. In November, 2016, Chinese companies were recommended to desist buying foreign assets in the sphere of real estate and amusement.

Dalian Wanda has been very active buying foreign assets lately. It bought Legendary Entertainment production house, AMC Entertainment and Carmike Cinemas, and the European Odeon и Nordic Cinema.

It is remarked that except for buying the two latter, all Wanda deals have already been closed, and Odeon and Nordic Cinema are being bought via the American department of AMC, which is not subject to Chinese legislation.

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