On February 26 reports stated that the insurer Ping An Group's management may delay its hundred billion refinancing plan to avoid the lackluster stock market.
One day later, the 21st Century Business Herald learned that the State Taxation Administration would start a four-month tax inspection from March 3 in Ping An Group and all its provincial, city and county branches.
Ping An said it was a routine inspection by the taxation administration but the news still created an uproar inside the group.
If any problems are found during the inspection, the group's refinancing plan will be postponed until July at the earliest, said an analyst.
For more details, please read the full story in Chinese. (http://www.21cbh.com/content.asp?newsid=27548)
(China.org.cn February 28, 2008)
