Anbang, China’s insurance conglomerate and an active overseas acquirer, has denied a report it is set to pay USD400 million as part of a group of investors buying a USD4 billion office block at 666 Fifth Avenue in New York, owned by President Donald Trump’s son-in-law and Senior Adviser Jared Kushner. Anbang and its Chairman Wu Xiaohui made global business headlines in 2014, when it bought the New York based historic Waldorf for USD1.95 billion. He is also known in China as a well-connected businessman, being the son-in-law of former Chinese leader Deng Xiaoping. The Fifth Avenue property was bought by Kushner Companies in 2006 for USD1.8 billion, which at the time was the highest price paid for a single building in Manhattan. The company’s spokesperson said it “is in active discussions around 666 Fifth Avenue, but nothing has been finalized”, Reuters reported. The New York Times reported in January that Anbang Chairman Wu and Jared Kushner were nearing agreement on a joint venture to redevelop the building.