China Said to Ask Banks to Halt Dealings With Anbang

The transcript discusses the dramatic developments surrounding Unbound Insurance Company, where the chairman was detained for unspecified economic crimes. Chinese authorities are investigating the company's financial dealings, particularly focusing on the source of funds for overseas mergers and acquisitions. The government is concerned about the insurance sector's use of revenues from short-term life insurance policies, which have significantly increased in recent years. These policies are being used to purchase illiquid assets, raising systemic risks. The investigation is ongoing, with few details available.

How did the sales of life insurance policies change over the years?

What concerns does the government have regarding the insurance sector's practices?