China News

Update: Russell Investment Exits Joint Venture With China’s Ping An

Russell Investment Management and China’s Ping An Insurance Group said they have terminated their investment joint venture after four years, the latest sign of friction between foreign fund managers and their Chinese partners. The joint venture, launched in March 2011, …

China Taiping Insurance Stock Jumps After Tech Moguls Join $1.7B Share Sale

China Taiping Insurance Holdings Co. jumped the most in more than six years after people with knowledge of the matter said China’s two richest technology moguls joined its $1.7 billion share sale. Taiping advanced 16 percent to HK$32.80 at 11:02 a.m. in …

China Taiping Insurance Plans to Raise $1.7 Billion in Private Share Sale

China Taiping Insurance Holdings Co. plans to raise HK$13.5 billion ($1.7 billion) in a private share sale after its stock price more than doubled in the past year. The insurer will sell 486 million shares at HK$27.74 a piece, representing 13.5 percent …

Uber’s Office in Southern China Raided by Government: Xinhua News Agency

Authorities in the southern Chinese city of Guangzhou have raided the local office of online ride-hailing service Uber on suspicion of “unlicensed operation,” seizing a number of mobile phones, the official Xinhua news agency said on Friday. “The company is …

Meadowbrook Insurance Shareholders Approve Acquisition by Fosun

Meadowbrook Insurance Group, Inc., headquartered in Southfield, Mich., announced that the group’s shareholders have formally approved the pending acquisition of Meadowbrook by Fosun International Limited. In late December 2014, Fosun, a Chinese investment group agreed to acquire Meadowbrook for approximately …

China Faces Severe Threats From Climate Change: Beijing-Based Meteorologist

Chinese officials don’t usually go into detail on the challenges that climate change poses for the world’s most populous and largest carbon-emitting country. But in a speech on March 23, a top meteorologist warned of the severe risks facing China, …

Lloyd’s Opens Branch Office in Beijing to Access New Chinese Business

Lloyd’s opened a branch office in Beijing to access new business and forge closer links with business partners in China’s capital. Lloyd’s also appointed Songlin Chen, as general manager of the Beijing branch. In this role he will be responsible …

A.M. Best: China’s Solvency Rules Will Alter Reinsurance Buying Decisions

China’s new solvency regime will encourage direct insurers to revise their reinsurance programs, or panel of insurers, in order to better manage their solvency requirement arising from reinsurance credit risk, according to a new briefing published by A.M. Best. Titled “China’s …

China Says Tech Firms Have Nothing to Fear From Draft Anti-Terror Law

China’s proposed anti-terrorism law will not affect the legitimate interests of technology firms, a top Chinese spokeswoman said Wednesday after U.S. President Barack Obama warned of its impact and demanded amendments. China’s proposals, which would require tech firms to provide encryption keys and …

China: Domestic Insurers Must Boost Capital to Cover Shadow-Banking Risk

China’s Premier Li Keqiang has told the world’s fastest-growing major insurance industry to boost capital as rating companies warn of shadow-banking investments. Policy providers will need cushions commensurate with their risks rather than just size, the industry regulator said Feb. 17 …