American International Group has formed a strategic alliance with Pingan Insurance Company of China, that provides for each company to use the other’s sales and service network.
AIG will use Pingan’s facilities to provide services for its commercial clients inside China, and will offer its worldwide facilities to Pingan to service its customers doing business outside the Chinese mainland.
Pingan is based in Shenzen in Guangdong province, one of the few areas, along with Shanghai, where foreign companies are currently allowed to operate. AIG also has an office there, and hopes to open more when China Joins the World Trade Organization.
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