Two of China’s financial regulators have stepped in to calm market jitters about the government’s crackdown on overseas deals, denying reports that they would further discourage and scrutinize the overseas acquisitions by several of the country’s biggest asset buyers. The China Insurance Regulatory Commission (CIRC) denied a Bloomberg report that it had pressed Anbang Group to dispose of its offshore assets, including New York’s landmark Waldorf Astoria hotel Bank Nagelmackers, to repatriate the sales proceeds. There was “no related demand, plan or arrangement” to do so, the regulator said at a press briefing in Beijing. The State Administration of Foreign Exchange (SAFE) said it actively supports banks and companies engaged in “real and compliant” businesses to use their onshore assets as collateral for offshore loans, rebutting Bloomberg’s report that quoted unnamed sources saying SAFE was scrutinizing the borrowing practice. Several Chinese asset buyers, including Anbang, Dalian Wanda Group, Fosun Group and HNA Group, were reported to be under pressure to sell some of their assets abroad. “It’s clear the authorities don’t want people to panic,” said Brock Silvers, Managing Director of Kaiyuan Capital, an investment advisory in Shanghai. “They also need to avoid spoiling the market for companies like Anbang” and not be seen to be making demands or requests for them to exit from the overseas market, and “to remain rational to ensure good pricing”, the South China Morning Post reports.