China News

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 …

China’s Draft Counter-Terrorism Law Alarms Foreign Technology Firms

China is weighing a far-reaching counter-terrorism law that would require technology firms to hand over encryption keys and install security “backdoors,” a potential escalation of what some firms view as the increasingly onerous terms of doing business in the world’s …

Asia’s Top-Performing Hedge Fund Bullish About China Insurers

Asia’s top-performing hedge fund is holding on to yuan shares of Chinese insurance and utilities companies, even after the Shanghai Composite Index surged 53 percent in 2014. Monetary easing in China will help bolster investment-linked insurance sales and make the dividend yields of …

Anbang Expands Reach With Diverse Investments in China, Europe & US

Anbang Insurance Group Co., the Chinese insurer that’s buying New York’s Waldorf Astoria hotel, is expanding at home with investments from China Minsheng Banking Corp. to Financial Street Holdings Co. The insurer became the largest shareholder of Minsheng Bank with a 9.1 …

China Forms 1st Insurance Fund to Cap Financial Risk in Shadow Banking

China on Friday set up its first insurance fund for its $2.1 trillion trust industry in a move to reduce financial risk in shadow banking, the country’s banking regulator said. The fund, jointly established by China Trustee Association and 13 trust firms, will …

China Moving to Ease Rules on Foreign Participation in Financial Services

China is moving to raise its global competitiveness by loosening restrictions on foreign investment in more manufacturing and services sectors, the country’s top regulator said. In a draft foreign investment catalog China’s National Development and Reform Commission (NDRC) cut the number of …