Dalian Wanda, one of China’s largest property groups, quietly sold its interest in its largest ski resort to a friendly company earlier this year.
The sale, uncovered by a search of corporate records, revealed what appeared to be an effort by Wanda to rebuild its finances amid government pressure to rein in its dealmaking activities.
Corporate registry information on the Changbaishan ski resort, in China’s north-west near the North Korean border, was changed in June to show that Dalian Yifang group holds 98.33 per cent of Changbaishan stock and Wanda is no longer on the shareholder list.
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