Beijing-based Anbang Insurance Group on Sunday declined to comment on recent media reports saying its Chairman Wu Xiaohui had dinner with Jared Kushner, the son-in-law of U.S. President-elect Donald Trump, to discuss a joint venture agreement in Manhattan.
The company is still verifying facts with its U.S. subsidy, a spokesperson of Anbang who declined to be identified, told the Global Times on Sunday.
On Sunday morning, the New York Times reported that Wu sat with Kushner, who is also one of Trump's closest advisers, in a private dining room at the Waldorf Astoria hotel in Manhattan on November 16. The hotel was acquired by Anbang in a deal worth $1.95 billion in October 2014.
During the meeting, the two were near agreement on a joint venture for the redevelopment of 666 Fifth Avenue, a "fading crown jewel of the Kushner family real estate empire," the report said. Wu also expressed his desire to meet Trump, saying "Trump's ascension will be good for global business," according to the report.
The Anbang talks began around six months ago, "well before Trump's victory" in the U.S. election, the report said, citing Risa Heller, the spokeswoman for Kushner. Heller also stressed that the U.S. did not see Anbang as a State-owned enterprise, as government officials are not allowed to accept foreign entity-related gifts and funds according to the U.S. Constitution.
The private talk sheds light on the future of China-U.S. economic cooperation in the wake of Trump's presidency, Zhang Jiayuan, an analyst of China Investment Consulting Co, told the Global Times on Sunday. "Still, we can see the label of businessman in Trump's moves, which are motivated by (economic) interests," Zhang said.
But Zhang noted that the reported deal may not proceed smoothly due to worries over "conflict of interest" in the U.S. and other "security concerns" raised by U.S. regulators.
In May 2016, Anbang withdrew its proposal to acquire U.S.-based insurance company Fidelity & Guaranty Life after U.S. regulators' rejection, domestic news portal sina.com reported in June.
