Wang Jianlin, China’s wealthiest magnate, this week announced a surprise sale of the majority of his hotel and tourism portfolio for 63 billion yuan to Sunac China.

After his disposal, Wang’s business empire still encompasses more than 200 shopping malls and plazas across China, covering an estimated 33.9 million square meters (364 million square feet). He remains the operator of the world’s largest cinema chain, comprising 8,200 screens around the world under the AMC brand, and about 450 screens under the Hoyts brand in Australia and New Zealand.

The disposal is a course reversal for the 62-year-old magnate, who’d been on worldwide shopping spree since 2012. The sale may have been prompted by an instruction last month by the China Banking Regulatory Commission, which ordered banks to look closely at their loans exposure to asset buyers including Wanda.

While nothing had been found amiss so far, the extra scrutiny has compelled Wang to act. He had barely put the finishing touches to his US$6 billion Harbin Wanda City ski resort, which opened two weeks earlier boasting the world’s largest indoor ski slope, than selling the majority of his hotels and theme parks.

After the sale, Wanda still owns a Madrid football club, the organiser of the Iron Man series of triathlon races, and the Hollywood studio Legendary, as well as one of the world’s biggest makers of luxury yachts. Legendary’s recent movies include Kong: Skull Island co-produced with Tecent Holdings’ movie unit, and The Great Wall co-produced with Atlas Entertainment.