The Chinese Government Just Seized Billions Worth of Canadian Real Estate |


One of China’s largest overseas buyers just had its operations seized by the government. The China Insurance Regulatory Commission (CIRC), a state run regulator, has officially begun prosecution of Wu Xiaohui, the former CEO of Anbang. The process has led the government to seize control of the assets “temporarily,” placing billions of dollars of Canadian real estate in the hands of the Chinese government. Oh yeah, and the Chinese government may be deciding which assets need to be liquidated.

CEO Prosecuted, Company Control Seized By The Government
Early this morning, the CIRC announced that Wu would be prosecuted on suspicion of “economic crimes.” CIRC will takeover the company for a period of at least one year, to “protect” Anbang’s consumers. This builds on a previously announced strategy, where the government formed committees to “resolve risks at a few problem companies in an orderly and controllable manner.” The regulator notes that the company is “basically stable.” At least one buyer is already in talks to bid for some of Anbang’s assets.

Double Counting Capital Reserves Is Bad, Right?
Anbang may have been using a significant amount of leverage, that wasn’t clear when they made the purchases. Caixan, a major Chinese financial news site, attempted to demystify Anbang’s shareholder structure. In the process, they came across this:

Clear as mud, right? While investigating the company, they found that there may be significant cross investment pledges. Consequently, capital reserves may have been counted more than once. This would mean they were likely overleveraged. Reporters from The New York Times also did a similar investigation, and also struggled to explain Anbang’s ownership structure. The hunt led them to remote villages in China, where multi-billion dollar holding companies, were located in tiny backroom office spaces.

The Chinese government wasn’t exactly thrilled with the international attention, and cracked down swiftly. On June 2, it was rumored that Chairman Wu was barred from leaving the country. It was disputed that there was a problem, but regulators are now convinced it’s definitely a problem.

What They Own In Canada

If you missed media attention around their shopping spree, here’s what they bought in Canada. The Bentall Centre, a landmark office complex in Vancouver, that went for just over a B. Retirement Concepts, a senior care company in BC and Alberta, that also just happens to have a massive real estate footprint. The HSBC Building in Toronto, also known as 70 York Street. Last but not least, 777 Bay Street, who’s largest client is the Government of Ontario. All of these deals were approved by the Canadian government, who found nothing weird about their ownership structure.

Canada must have missed when US Congress flat out called them a state owned entity. The US never presented hard proof of the Chinese government’s involvement with Anbang. Although it’s now, ironically, under state control. It’s not like the RCMP and CSIS warned us this would happen though. Oh wait, there was that one time the RCMP and CSIS warned us this would happen. Whoops!


If you stop your enemies from seizing all of your real estate…they win.


Its amazing to me to see the love affair some are having with China. People like our own Monty who see the evil of the expansion of America seem to hold other countries and territorial expansions harmless. China of course is more capitalist than America and communism is dead. China is about to do in the 21st century what Britain did in the 16th - 18th centuries. Xi has just installed himself as the most powerful leader since Meo and China is funding its Belt and Road projects with American and European wealth… Of course China has no interest in expanding its military beyond defense…

Chinese young people coming of age this year and capable of serving in the military are 8 times the number of people we have in active and ready reserve…


Yeah, Monte has derided me for calling China,Communist China. They’re barely Socialist.
For awhile they have become the biggest threat to the U.S. since Nixon’s visit. Most of our previous presidents have legitimized their Unchecked expansion.The string of man-made islands are hardly homes to Sandals Resorts.
The Canadian government has to share the blame with their.head’- in-the -sand approach to foreign policy.
Communist China.may have.a job opening.for a “Good -Will” Ambassador.


China has not been held accountable for decades. A heavy hand against them is long overdue. Even during the Bush years there was lots of complaints about their currency manipulation. Obama did nothing after they kept manipulating currency and hacked our government servers. It’s time they paid the price and started getting treated like the backwards dog eating people that they are.


They might as well seize the government in Ottawa also.


Why do people defend unchecked US expansion throughout the 20th century and criticize Chinese expansion. I’ve pointed out on this forum repeatedly that both Russia and China began massive military buildup at about the time Bush was invading Iraq. Both Russia and China have been voting against the US at the UN, particularly since Obama’s abuse of UNSCR 1973 in Libya and they both have decried a US dominated unipolar world and its threat to global security. Freedom, if you resent or are fearful of a Chinese military build up, you may blame a dozen US presidents for abusing American power for well over a hundred years. But I assure you it’s too late to do anything about it now. America is in irreversible decline in a whole host of ways and China owns the 21st century.


Ha, and the same thing could be said of the United States. And it’s looking more and more like the heavy hand will be China.

"Russia and China are ready to work together to safeguard peace and strengthen international security,” Shoigu added.

From the US Naval institute

Report: Chinese Develop Special “Kill Weapon” to Destroy U.S. Aircraft Carriers


I’m not condemning Chinese expansion… it is how the world has worked from the beginning and is exactly why ‘globalization’ and one world government will not work except as a way to subject anyone who opposes you. Just because I believe the US should not allow itself to go the way of Britain does not mean that I don’t give them kudos for taking a shot. I am not exactly sure what you mean by ‘Unchecked US Expansion’ but I would say that like Britain in the era of colonialism, they took advantages. Some people in places like Singapore, Hong Hong and even independent India find much good that came from the colonialist influence of Britain. The US began capturing the Industrial Revolution by… of all things… they use of tariffs to level the playing field with countries like Britain. After WWII the US, quite frankly was the only industrial base standing… It capitalized on that advantage… Unchecked?

The US has literally given that advantage away… I financed China’s rise. It was not to the advantage of the American people but instead to the people who want to create and sit at the table of ‘leaders’ who will dominate the world. Trump and indeed the economic nationalist movements around the world are undoing that. The US, at least under an economic nationalist leader will learn to make things again and have the ability to source material and build things it needs.

Both Russia and China have held up obtuse votes since the inception of the UN… that is why it is a failure. Of course they decried the ‘unipolar world’… they weren’t in the captains chair.

The US is indeed in a decline but with determined action, it is not out of the game. I know you like the idea of the loathsome US being brought to its knees in a whole host of ways, particularly by a communist nation but with the right leadership and a people who are actually proud of themselves the US can roll back its definition of ‘provide for the common defense’… but it will also need to figure out that ‘promote the general welfare’ never meant selling out the individual to the almighty government.


When you talk about them you sound so … proud of their ability to steal the massive amounts of technology that have given them the ‘present’ edge. Sometimes you gush at their rise. People like you just might get the future you want… until you realize just what you gave up and beg to get it back… but you already turned in your AR15…


Looking to become a world power at the end of the 19th century the US incited a war with Spain and lifted a very valuable island in the WPAC and has been building a permanent aircraft carrier out of it for years now, and it won’t be housing any Sandals Resorts either. One of the biggest problems with USFP and those Americans which support it is hypocrisy.


I’m currently tied up.


Whose real estate is China stealing. And how did the US even come into existence. How did the US acquire Texas, New Mexico, Arizona and california, how about Hawaii, Guam, Puerto Rico?


And what would that mean??


How China is ruled: Communist Party

The Chinese Communist Party’s more than 80m-strong membership makes it the biggest political party in the world. Its tight organisation and ruthlessness help explain why it is also still in power.

The party oversees and influences many aspects of people’s lives - what they learn at school and watch on TV, even the number of children they are allowed.

It is made up largely of government officials, army officers, farmers, model workers and employees of state-owned companies.

It is unrepresentative of China as a whole. Only a quarter of its members are women, for example. It is also obsessive about control, regularly showing itself capable of great brutality in suppressing dissent or any challenge to its authority.
The party is still the guiding hand

Joining the party brings significant privileges. Members get access to better information, and many jobs are only open to members. Most significantly in China, where personal relationships are often more important than ability, members get to network with decision-makers influencing their careers, lives or businesses.
Pyramid structure

To join, applicants need the backing of existing members and to undergo exhaustive checks and examination by their local party branch. They then face a year’s probation, again involving assessments and training.

The party has a pyramid structure resting on millions of local-level party organisations across the country and reaching all the way up to the highest decision-making bodies in Beijing.

In theory, the top of the pyramid is the National Party Congress, which is convened once every five years and brings together more than 2,000 delegates from party organisations across the country.

The congress’ main function is to “elect” a central committee of about 200 full members and 150 lower-ranking or “alternate” members", though in fact almost all of these people are approved in advance.

In turn, the central committee’s main job is to elect a new politburo and its smaller, standing committee, where real decision-making powers lie.

Someone call the BBC and tell them Monet says they are WRONG!


I just hate how the internet and universities like Stanford are completely uninformed.

Communism in China


Little Red BookThe Communist Party of China was formed in 1921. It was under Mao Zedong’s control in 1927. Eventually, Mao led a revolution, and the communist party obtained control in 1947. They followed the example of the soviet model of development through heavy industry with surpluses extracted from peasants. Consumer goods were left to secondary importance. In the sino-soviet split of the 1950’s, Mao split from traditional Marxism-Leninism and developed Maoism, the Chinese interpretation of communism. Mao was upset with the Soviet leader Khrushchev’s position of peacefulcoexistence between the communists and capitalists. The Maoists started a strong communist tradition, instituting the Great Leap Forward and the Cultural Revolution. The Great Leap Forward was instituted to help transform China into a heavy industrialized society. However, this was largely considered to be a failure and many Chinese starved to death. In the cultural revolution, Mao overthrew his enemies and millions of people were killed or persecuted.

New Ideas

After Mao’s death, the ideals of China shifted under Deng Xiaoping to a form of “market socialism.” He instituted changes in the economic system where they developed what he considered to be socialism with Chinese characteristics. He decided to use policies that had been shown to be effective and followed less the ideologies of the earlier leaders. He instituted the “Four Modernizations”, describing agriculture, industry, science and technology, and the military. Deng is commonly credited as the person who turned China into the economic world power that he is today. He opened up China to the outside world and industrialized successfully. Mao

In 1989 the death of reformer Hu Yaobang led to student protests for individual freedoms. This led to the Tienanmen Square massacre, where military force was used against civilians. The PRC government was internationally condemned, and Deng officially resigned in 1989. He made a tour of China to keep emphasis on his policies and inspire the entrepreneurship that exists in China today.

Modern Communism in China

The current constitution was created in 1982 and been continually revised since. The constitution includes many civil rights: free speech, press, worship, the right to trial, and the right to own private property. However, in practice this constitution has widely not been followed. There has been very little done to ensure that new laws instituted follow the constitution. The judicial system does not provide any particular method for review of new laws.

Computer usage in China has exploded. Currently, there are over 210 million internet users and over 400 million mobile phone users. There is a huge increase of the computer users in China, and ethics of technology has become increasingly prominent over the years. In particular, privacy, censorship, public ownership, and work ethic have become series ethical issues.


That’s because the Chinese communist party is about as representative of China as a whole as Trump supporters are representative of the US as a whole. They have been evolving towards capitalism.


Monte, I’m intelligent enough to know the U.S. has done it’s share of nation building.The CIA helped to oust a democratically elected head of state in Iran and put the Shah in power .
Communist China’s goal is to export it’s Communist Ideology and create chaos.They want to dominate the world. Appeasement will only make them stronger.
Do we have to wait until they threaten shipping in the South Chins Sea before confronting them???
I agree the U.S. hasn’t been exactly honest in its foreign policy but we are still better than Communist China.


Thanks for the acknowledgments to US abuse of power. I’m not saying that we should appease China, I’m saying that there’s nothing that we can do about China. And I’m saying that China has long criticized US abuse of power and they have legitimate concerns as I’ve shown you before, our own pentagon acknowledges that the DOD is about global resource security, not national defense.


And so much more, most recently under Obama supporting a coup against the democratically elected government in Kiev.

United States involvement in regime change has entailed both overt and covert actions aimed at altering, replacing, or preserving foreign governments. In the latter half of the 19th century, the US government undertook regime change actions mainly in Latin America and the southwest Pacific, and included the Mexican-American, Spanish-American and Philippine-American wars. At the onset of the 20th century the United States shaped or installed friendly governments in many countries including Panama, Honduras, Nicaragua, Mexico, Haiti, and the Dominican Republic.

In the aftermath of World War II, the US government expanded the geographic scope of its regime change actions, as the country struggled with the Soviet Union for global leadership and influence within the context of the Cold War. Significant operations included the US and UK-orchestrated 1953 Iranian coup d’état, the 1961 Bay of Pigs Invasion targeting Cuba, and support for the Argentinian Dirty War, in addition to the US’s traditional area of operations, Central America and the Caribbean. In addition, the US has interfered in the national elections of many countries, including in Japan in the 1950s and 1960s to keep its preferred center-right Liberal Democratic Party in power using secret funds, in the Philippines to orchestrate the campaign of Ramon Magsaysay for president in 1953, and in Lebanon to help Christian parties in the 1957 elections using secret cash infusions.[1] The US has executed at 81 overt and covert known interventions in foreign elections during the period 1946-2000.[2]

Also after World War II, the United States in 1945 ratified[3] the UN Charter, the preeminent international law document,[4] which legally bound the US government to the Charter’s provisions, including Article 2(4), which prohibits the threat or use of force in international relations, except in very limited circumstances.[5] Therefore, any legal claim advanced to justify regime change by a foreign power carries a particularly heavy burden.[6]

Following the dissolution of the Soviet Union, the United States has led or supported wars to determine the governance of a number of countries. Stated US aims in these conflicts have included fighting the War on Terror as in the 2001 Afghan war, or removing dictatorial and hostile regimes in the 2003 Iraq War and 2011 military intervention in Libya.

Oh we’ve done a tremendous amount of killing and destruction to shape the world the way we want it but get our knickers in a damn knot when another country tries the same. But that’s hypocritical human nature isn’t it.