China News

China Firms View Political Risks as Top Concern for Belt & Road Project

As the global limelight fades from President Xi Jinping’s “Belt and Road” summit, the main actors — Chinese state-owned companies — are warning about the political risks they face along the route. Earlier this month Xi outlined plans to direct …

China Eyeing Cyber Rule Delay After Outcry from Foreign Firms: Sources

China may delay full implementation of controversial new cyber security rules, giving companies more time to prepare, two people who attended a meeting on Friday between the country’s internet regulator, businesses and diplomats told Reuters. The Cyberspace Administration of China …

China’s Anbang Denies Accusation It Lied About Finances

The Chinese insurer that bought New York City’s Waldorf Astoria Hotel is fighting an accusation by China’s leading business magazine that it lied about its finances. The report by Caixin follows a series of foreign acquisitions by Anbang Insurance Group …

Munich Re’s Primary Carrier, ERGO, Explores China Digital Business

ERGO, Munich Re’s troubled primary insurance company, is making a digital push in the massive Chinese market. Mark Klein, ERGO’s chief digital officer, recently visited China to explore how the insurer can partner on data with Chinese companies, such as …

Global Insurance Industry Set to Grow by 4.5% in 2017-2018: Munich Re

The global insurance industry is set to grow more strongly at 4.5 percent per annum on average (3.0 percent in real terms, or adjusted for inflation) during 2017 and 2018, according to Munich Re. While premium income is likely to …

Starbucks in China Provides Health Cover for Workers’ Parents

Starbucks Corp. will provide Chinese workers with health insurance that extends coverage to their parents, a unique offering by the coffeehouse chain that may be used by more than 10,000 people to treat conditions such as cancer, heart disease and …

China’s Probe of Regulatory Chief Won’t Slow Insurers’ Overseas M&A: Opinion

Xiang Junbo, the man on whose watch China’s insurance industry flourished, is now himself under investigation. As Bloomberg News reported over the weekend, China’s anti-graft agency is probing the nation’s top insurance official as the government steps up a bid …

Chairman of China’s Insurance Regulator Investigated for ‘Severe’ Violations

China’s anti-graft agency is probing the nation’s top insurance official Xiang Junbo as the government steps up a bid to rein in financial risks amid an economic slowdown. Xiang, chairman of the China Insurance Regulatory Commission, is under investigation on …

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 …