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China Anbang crackdown: Who might be next?

The action against Anbang was called a “warning shot” by the Economist Intelligence Unit. But it is just one of the businesses which became known as “grey rhinos” – large, visible problems in an economy which are often ignored, until they start moving fast and trampling everything in their wake. And next in Beijing’s crosshairs, analysts predict, is likely to be HNA, which has been described as the biggest company you’ve probably never heard of. Investing an estimated $40bn (£28.7bn) in the past three years, it differs from Anbang having primarily bought into “real businesses” rather than being built mainly around complex financial structures. It owns China’s Hainan Airlines, airport…