Ottawa urged to reject retirement home bid by Chinese group

Michael Byers, the Canada Research Chair in Global Politics and International Law at UBC, spoke to the Globe and Mail after a Beijing-based insurer with a questionable ownership structure is seeking approval to buy a majority stake in one of B.C.’s largest retirement home chains.

Byers said it is concerning that the insurer, called Anbang Insurance Group, appears to have conducted the deal under the radar by incorporating a new Canadian company under a different name.

“It does send out a bit of a red flag here. One would hope that any company wishing to invest in Canada would do so in an open and transparent way – that adds to the sense of confidence that it’s a good company,” he said.