7Chinese restart overseas acquisition spree insurers into Australia Investment in – Beijing|Chinese restart overseas acquisition spree insurers into Australia Investment in – Beijing

Chinese resume overseas acquisition spree insurance business into the new darling of the Australian investment in new network Beijing March 29, according to Australias new fast network quoted "the Australian newspaper" reported that Shanghai independent economist Andy Xie (Andy Xie, transliteration) said that Chinese enterprises will continue in the Australian real estate market buying spree. The insurance companies seeking value added and revenue opportunities may become the new purchasing power in Australia. Like the United States and the United Kingdom, the domestic real estate market has become the most popular destination for China’s capital. At the beginning of last year, real estate tycoon Dalian Wanda Group (Dalian Wanda) at 4.15 billion yuan of prices from the hands of the Blackstone Group (Blackstone) bought house in Sydney’s Circular Quay) of the gold fields. Sunshine Insurance Group (Insurance Group Sunshine) last year to spend 463 million yuan acquisition of Sydney Sheraton Park Hotel at the Anaheim Resort (on the Park Sheraton). Chinese enterprises, especially insurance companies, have accumulated a large amount of capital reserves, and are sometimes obtained by issuing junk bond products. Xie Andi said: part of the insurance company is to sell to Chinese retail investors with proceeds to guarantee the so-called trust products. They used the money to buy foreign companies. You guarantee a 5% (yield) to some retail investors in China, and the local bank can only give 2% or 3%, the other person will think this is very good. Products are likely to default, but most buyers do not know." Anbang insurance group (Anbang Insurance Group) this week seems to in the transactions of $132 billion acquisition of Starwood Hotels & Resorts (Starwood Hotels & amp; Resorts encounter failure. However, the group has agreed to the price of about $65 billion to Blackstone Group acquired American luxury resort company strategic Hotels & amp; resorts. Observers expect insurance companies looking for value added and revenue opportunities to become the new buying power in Australia. Xie Andi said that for the sake of safety, Chinese businessmen tend to invest overseas. He said: "if one day went bankrupt, they also have some assets overseas." Xie Andi pointed out that this is driving capital outflows.