HONG KONG – A Chinese insurance company is disputing a news report that details how Premier Wen Jiabao's family made a fortune from investing in the company after it lobbied Wen and others to waive rules requiring its break up.
Ping An Insurance Group said Monday that recent media coverage related to the company had "serious inaccuracies, facts being distorted and taken out of context, as well as flawed logic."
The insurer did not name a specific news outlet nor did it say what the errors were. But the statement came a day after the New York Times published a lengthy investigation of how Wen's relatives profited after the insurer avoided a breakup. The newspaper said the relatives' investments were hidden behind obscure partnerships.
Ping An said it was a "law-abiding" company.