Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
Ex-Chairman of China’s Anbang ‘Doesn’t Deserve Leniency,’ Say Prosecutors
Apr 2 2018 // Chinese prosecutors said Wu Xiaohui, the former chairman of Anbang Insurance Group Co., doesn’t deserve leniency as the one-day hearing of a fundraising fraud and embezzlement case against him wrapped up. Wu...
Former Chairman of China’s Anbang Pleads for Leniency in $10B Fraud Trial
Mar 29 2018 // The former chairman of China’s Anbang Insurance Group Co Ltd requested leniency at the end of his high-profile trial in Shanghai for alleged economic crimes, including fraud and embezzlement involving more than $10...
China’s Ping An Plans $3B IPO of Financial Management Portal OneConnect: Sources
Mar 29 2018 // Ping An Insurance (Group) Co., China’s largest insurer by market value, is starting preparations for an initial public offering of its OneConnect financial management portal that could raise as much as $3 billion,...
Anbang’s Former Chairman Goes on Trial, Accused of Masterminding $10.4B Fraud
Mar 28 2018 // A Shanghai court accused former Anbang Insurance Group Co. Chairman Wu Xiaohui of masterminding a 65.2 billion yuan ($10.4 billion) fraud, using unauthorized sales of investment-type policies to prop up the acquisitive...
Chinese Tech Giant Baidu to Test Self-Driving Cars in Beijing
Mar 23 2018 // China’s capital city has given the green light to tech giant Baidu Inc to test self-driving cars on city streets, an important step as the country looks to bolster its position in the global race for autonomous...
China’s Fosun Still Interested in Acquiring Greek Insurer if Winning Bid Collapses
Mar 23 2018 // Fosun International Ltd came up short in its bid to buy National Bank of Greece SA’s insurance unit, but the Chinese conglomerate is still willing to swoop in if the winning bid collapses, albeit at a different price...
Foreign Insurers Benefit as China Tightens Rules on Local Firms
Mar 21 2018 // When Zhang Xixi, a 25-year-old staffer at an online financial company in China’s southern province of Guangdong, decided last year to buy personal insurance for the first time, he was swamped with options. Local...
China Names Guo to Head New Insurance, Banking Regulatory Commission
Mar 21 2018 // China has named Guo Shuqing as the head of the newly formed regulator for the banking and insurance sectors, financial publication Caixin reported on Wednesday without citing a direct source. Guo had been the head of the...
AXA Investment Managers Bullish About Europe as Asian Investors’ Interest Grows
Mar 20 2018 // Andrea Rossi doesn’t buy into the story that Europe is a dead end for growth. In fact, he sees luring Asian investors to his continent as one of the key ways AXA Investment Managers will expand in years to come. The...
China’s 2nd Largest E-Commerce Firm, JD.com, Seeks to Expand in Insurance, Banking
Mar 16 2018 // JD.com Inc’s finance arm is looking to raise about 12 billion yuan ($1.9 billion) in fresh equity that could see its value double from last year to more than $20 billion, three people with knowledge of the matter...
$1.5B Settlement in Syngenta Modified Corn Seed Lawsuit
Mar 14 2018 // A $1.5 billion settlement was reached in a class-action lawsuit covering tens of thousands of farmers, grain-handling facilities and ethanol plants that sued Swiss agribusiness giant Syngenta over its introduction of a...
China to Merge Banking, Insurance Regulators in Big Government Shake-Up
Mar 13 2018 // China is merging its banking and insurance regulators, giving new powers to policymaking bodies such as the central bank and creating new ministries in the biggest government shake-up in years. The revamp is a cornerstone...
China’s Anbang ‘Committed’ to Overseas Units After Government Takeover
Feb 26 2018 // Anbang Insurance Group Co Ltd. said on Monday it fully supported the Chinese insurance regulator’s decision to temporarily take control of the company and remains committed to the development of its overseas...
Q&A on China’s Takeover of Giant Anbang Insurance
Feb 23 2018 // The once-mighty Anbang Insurance Group Co. has been temporarily taken over by China’s regulators and its boss is facing prosecution on charges including fundraising fraud and embezzlement. Anbang’s meteoric...
China Seizes Control of Anbang; Acquisitive Chairman Faces Fraud Prosecution
Feb 23 2018 // The Chinese government on Friday seized control of Anbang Insurance Group Co. Ltd and said its chairman had been prosecuted, dramatically illustrating Beijing’s willingness to curtail big-spending conglomerates as it...
India’s City Union Bank Hit by Cyber Heist via SWIFT Payments System
Feb 20 2018 // India’s City Union Bank said on Sunday that “cyber criminals” had hacked its systems and transferred nearly $2 million through three unauthorized remittances to lenders overseas via the SWIFT financial...
XL Catlin Names Carpenter’s Xue as CEO/General Manager of XL Insurance (China)
Feb 16 2018 // XL Catlin announced the appointment of Phil Xue as chief executive officer (general manager) of XL Insurance (China) Co. Ltd. The appointment is pending regulatory approval. Xue will also act as country manager for XL...
Blackstone Eyes Recapturing Anbang Insurance Assets Including Waldorf
Feb 13 2018 // Blackstone Group LP, which scored big four years ago when a company it owned sold New York’s Waldorf Astoria hotel for a record-setting price to a little-known Chinese insurer, may soon get a chance to own the iconic...
China’s ‘Biggest Fiscal Risk Is Pension Risk’ from Aging Population
Feb 6 2018 // China’s pension shortfall is emerging as the next big challenge for policy makers as they intensify their years-long campaign to keep rising debt from derailing the economy. Aging in the world’s most populous...
China’s Services Sector Including Insurance Off to Flying Start in 2018
Feb 5 2018 // China’s services sector got off to a flying start in 2018, expanding at its fastest pace in almost six years as new orders surged and companies rushed to hire more staff, a private survey showed on Monday. Economists...
