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“In our discussions with Anbang we understand that there will not be any staffing changes outside of China as a result of this decision,” Pacific Reach Properties president and CEO Azim Jamal said in an email. Pacific Reach manages the Retirement Concepts properties.

“We anticipate that it will be business as usual for Retirement Concepts,” Jamal said, adding that his “working relationship with Anbang leadership in Canada has been excellent.”

But not everybody is convinced.

“These aren’t just regular transactions of some (real estate investment trust),” Conservative MP and foreign affairs critic Erin O’Toole said, adding the opposition was concerned about the potential for Chinese officials to takeover of Anbang last year. “This is an arm of the Chinese state,” he said.

“When the Anbang house of cards finally collapses, who will gain control of these senior care facilities in B.C.?” Conservative MP Mark Strahl asked in the House of Commons last year following the confirmation that Wu had been detained by Chinese authorities.

“Are seniors about to find out that their landlord is actually the People’s Republic of China?” he asked.

Prime Minister Justin Trudeau responded at the time that the retirement homes would continue to be regulated by B.C. “ensuring the rules for the care of seniors continue to be followed.”

China’s state-controlled Xinhua News agency reported that Anbang would remain a private insurer but added there would be a “shareholder restructuring” as the insurance regulator, the People’s Bank of China and other government entities take control of the company for the next year.