Taiwan’s Biggest Financial Firm Braces for Deeper China Turmoil
- Fubon Financial is capping risks from China amid turmoil
- Taipei firm has battled Covid losses, surging interest rates
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Taiwan’s biggest financial conglomerate has cut back on its exposure to China as it braces for any deeper fallout from the property crisis in the world’s second-largest economy.
Fubon Financial Holding, which operates banks and insurance companies, has been capping its risks in China over the past few years during Covid, and is now prepared for even deeper turmoil.