Articles by Bloomberg News

China Unveils Rules Allowing Foreign Firms to Take Majority Stakes in Local Insurers

China took a major step toward the long-awaited opening of its financial system, saying it will remove foreign ownership limits on banks while allowing overseas firms to take majority stakes in local securities ventures, fund managers and insurers. The new …

China Taiping Insurance in Talks to Buy $1.3B Building in Hong Kong: Sources

A unit of state-owned China Taiping Insurance Group is in advanced talks to acquire a newly built office tower in Hong Kong from Henderson Land Development Co., according to people with knowledge of the matter. China Taiping is negotiating to …

Fosun’s Plans for Overseas Growth ‘Don’t Clash’ with China’s M&A Crackdown

Fosun International Ltd., one of the companies in the cross hairs of a Chinese government crackdown on offshore acquisitions, says its plans for growth don’t clash with the authorities’ agenda. The acquisitive insurance-to-drugs group remains on course to expand its …

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 …

Taiwan Power Outages Disrupt Some Semiconductor Manufacturing

A blackout caused by a blunder at Taiwan’s biggest gas-fired plant is the latest challenge to an electricity grid recently pushed to its limit and to President Tsai Ing-wen’s efforts to reshape the island’s power mix. A combination of unusually …

China’s Move to Curb Overseas Deals Designed to Avoid Japan-Style Bust

President Xi Jinping’s top economic adviser commissioned a study earlier this year to see how China could avoid the fate of Japan’s epic bust in the 1990s and decades of stagnation that followed. The report covered a wide range of …

New York’s Waldorf Owner Pressured to Sell as China Clampdown Escalates

When Anbang Insurance Group Co. agreed to buy New York’s iconic Waldorf Astoria hotel for $1.95 billion in 2014, the world took notice. It was a defining moment in the global rise of China Inc., a deal that would help …

China Orders Probe Into Deadliest Plant Fire Since 2000

China’s President Xi Jinping ordered an investigation into the cause of a fire at a poultry plant in northeastern China that killed at least 119 people, the nation’s deadliest blaze in 13 years. Xi and Premier Li Keqiang asked the …