China News

As China Liberalizes Financial Sector, It Seeks ‘Better Treatment’ Abroad

People’s Bank of China Governor Zhou Xiaochuan said the country is preparing to further open its financial sector, and that doing so will involve negotiations over how other nations treat Chinese investors. Areas of potential liberalization include banking, insurance, investment …

China’s Fintech Investments in 2017 May Exceed 2016’s Record $10B: Accenture

Chinese financial-technology investments this year may exceed 2016’s record $10 billion as companies continue to raise funds for expansion and big banks grow their digital services, according to Accenture Plc. The country’s financial-services giants will probably ramp up investments in …

Chinese Watchdog Weighs Relaxing Rules for Big Insurers’ Overseas M&A

China’s insurance regulator is considering an industry shake-up that could see the biggest and most solvent firms resuming an overseas expansion, while smaller, riskier insurers would come under tighter scrutiny. The plan being discussed would see the China Insurance Regulatory Commission (CIRC) move from …

Vice Chair of State-Owned People’s Insurance Group of China in Corruption Probe

The vice chairman of state-owned People’s Insurance Group of China is being investigated for alleged discipline violations, the ruling Communist Party’s anti-corruption watchdog said on Thursday, employing the usual euphemism for corruption. Wang Yincheng is the latest senior official of a state-owned …

China Regulator Puts Brakes on Insurers’ 3-Year, $100-Billion Buying Spree

A regulatory clampdown on speculation by insurers and new limits on outbound capital flows are causing one of China’s most acquisitive industries to hit the brakes. Chinese insurers, after announcing almost $100 billion of deals over the past three years, …

China Regulator Urges Insurers to Avoid ‘Reckless’ Offshore Investments: Report

A senior Chinese insurance regulator warned against the industry’s reckless overseas investment, saying some insurers behaved recklessly when it came to offshore acquisitions, the official Securities Times reported on Thursday. Chen Wenhui, vice chairman of the China Insurance Regulatory Commission (CIRC) urged insurers to …

China Plans to Lower Restrictions on Foreign Investment in Financial Services

China’s cabinet issued measures on Tuesday to further open the world’s second-largest economy to foreign investment, including easing limits on investment in banks and other financial institutions. China will lower restrictions on foreign investment in banking, securities, investment management, futures, …

China in Midst of Insurtech Boom: Opinion

While China’s fintech boom continues unabated, another fast-growing phenomenon has gone almost unnoticed — so-called insurtech, the latest industry to be spawned by the intersection of online finance and the world’s biggest army of internet shoppers. Even as Chinese regulators …

China Regulator Proposes Insurer Ownership Limits to Curb Risky Investments

Proposed ownership limits at Chinese insurance companies could effectively stop conglomerates such as China Evergrande Group and Baoneng Group from using their insurance units to help fund acquisitions and riskier investments. The draft China Insurance Regulatory Commission’s (CIRC) proposals, unveiled last week, would cap individual ownership …

Israeli Government Opposes Sale of Insurers to Chinese Investors: Source

Israel’s Finance Ministry opposes the sale of insurance companies to Chinese investors because it’s hesitant to put pension money in their hands, a senior government official said, a stance that could bode ill for Fujian Yango Group Co.’s bid to …