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Chinese insurer to sue local media firm for damage to reputation

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China-based Anbang Insurance Group Co. Ltd. said that it will take legal action against financial news services provider Caixin Media Co. Ltd. and its editor-in-chief for running reports that "resulted in severe damage" to the reputation and rights of the insurer and its chairman, Wu Xiaohui, South China Morning Post reported. Caixin said in its reports that Anbang had violated regulations and lacked transparency.

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