Anbang, Caixin locked in dispute over article

A defamation dispute between domestic media outlet Caixin and Anbang Insurance, one of China's major global insurance and financial services companies, is on show.

On Monday, Caixin claimed it was defamed by Anbang's statement over the weekend. The statement alleged Caixin's recent report falsified facts about its CEO and Chairman Wu Xiaohui as well as the company's normal business operations after it had been unable to get sponsorship or advertisement orders from the insurer.

Caixin's reports are all independent and are not subject to commercial interests, the media outlet said in a response to Anbang's statement on Monday. Anbang's statement is groundless, and Caixin will reserve its rights to pursue legal redress, according to the response.

The English version of the disputed report was published by Caixin on Sunday, saying Anbang's swelling capital resulted from a series of complicated transactions.

According to the report, Anbang's shareholders increased to 39 from seven while its registered capital rose to 61.9 billion yuan ($8.9 billion) as of September 2014, which involved more than 100 companies that are all linked to Wu.