China News

Chinese Venture Capital Firm, Sinovation Ventures, Boosts Investment in AI

For years, Kai-Fu Lee would share his venture capital firm’s office space in Beijing with startups he was backing so they could get advice and collaborate with each other. But about three months ago, the last of the startups packed …

Swiss Re, Ping An Offer China’s 1st Mobile-Enabled Parametric Insurance Cover

Swiss Re has partnered with Ping An Property & Casualty Insurance Co. of China Ltd. to launch China’s first mobile-enabled typhoon property parametric insurance solution. This solution is designed to provide an affordable, easy-to-use insurance product for both individuals and …

Global Premium Growth Slows in 2016 – with China as Exception: Swiss Re

Global insurance premiums increased by 3.1 percent in real terms during 2016, down from growth of 4.3 percent reported in 2015, according to Swiss Re Institute’s sigma study. The report described last year’s global premiums as “fairly solid,” despite moderate …

AIR Worldwide Launches Crop Hail Model for Canada

Catastrophe risk modeling firm AIR Worldwide announced it has released a Crop Hail Model for Canada to provide crop insurers with a probabilistic view of crop hail risk in Canada. Based on 10,000 simulations of potential annual hail activity, the …

China’s Anbang Denies Chairman Has Been Prevented from Leaving Country

Wu Xiaohui, the chairman of Anbang Insurance Group Co. Ltd., is free to travel, a spokesman for the Chinese insurer said on Friday, denying a report that Wu had been prevented from leaving China. The Financial Times reported that Wu …

Trump Hands Climate Leadership Role to China to Dismay of Global Leaders

President Donald Trump’s decision to isolate the U.S. on climate change triggered waves of complaints from government and business leaders around the world and handed China a golden opportunity to burnish its image as a global leader. Trump’s withdrawal from …

China Initiates Tough Cyber Law, Despite Resistance from Foreign Businesses

China ushered in a tough new cyber security law on Thursday, following years of fierce debate around the controversial legislation that many foreign business groups fear will hit their ability to operate in the country. The law, passed by China’s …

China’s Controversial Cyber Law ‘Not Targeting’ Foreign Firms

China’s top cyber authority said on Wednesday it is not targeting foreign firms with a controversial national cyber law set to come into effect on Thursday. More than 50 overseas companies and business groups have lobbied against the law, which …

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 …