Risky Takeover Financing Comes to China

Caixin: Vanke's New Investor Got Funds in Way Analysts Say Is Risky

Most of the capital that Baoneng Group has used and plans to use to take control of China's largest property developer came from bank wealth management products funneled through a complex and highly leveraged arrangement that analysts say is risky.

Once the credit cycle reboots, there will be a lot of money flowing into equities.