China insurance regulation News

China Regulator Pledges Continued Backing of Hong Kong as Financial Center

China’s banking regulator pledged its backing for Hong Kong as a finance hub and reiterated a commitment to opening up the Chinese financial sector amid a deepening standoff with the U.S. China will provide support for its financial institutions doing …

Prudential in Talks to Fully Control China Venture; Weighs Sale of U.S. Business

Prudential is in talks that could lead to it taking full control of its 50:50 joint venture with China’s CITIC and is considering selling some or all of its U.S. business to sharpen its focus on Asia, a source told …

Chinese Regulator Gears Up for Opening of Financial Sector – and Foreign Competition

Chinese financial institutions are completely capable of coping with foreign competition as the $40 trillion financial sector is freed up, the central bank said on Thursday, after China and the United States signed a initial deal on trade. The bank …

Finance, Insurance Sector ‘Wins’ in U.S.-China Trade Deal Seem Familiar

The long-awaited U.S.-China trade deal touted wins for U.S. companies looking to access China’s $40 trillion financial sector, but many of the changes were already in the works, with Beijing having stepped up the pace of liberalization last year. Under …

China Opens Financial Sector to Increased Foreign Investment

China opened up its financial sector to more foreign investment as the government said it will take targeted measures to cope with rising risks and challenges facing the industry. Foreign investors can take a stake or control entities including wealth …

Update: Italy’s Generali Calls on China to Further Open Financial Services Sector

Two of Italy’s largest financial institutions, insurer Assicurazioni Generali and state fund CDP on Wednesday urged China to do more to open up its financial services industry to Italian firms and other foreign groups. Generali’s international business chief, Jaime Anchustegui, …

China to End Limits on Foreign Ownership in Financial Sector One Year Early

China will end ownership limits for foreign investors in its financial sector in 2020, a year earlier than scheduled, to show the world it will keep opening up its markets, Premier Li Keqiang said on Tuesday. China will also further …

China Regulator to Retain Control of Anbang Insurance Group Until Next Year

China’s banking and insurance regulator said on Friday it will extend its control of Anbang Insurance Group Co. Ltd. for one year to Feb. 22, 2020. The regulator will maintain the stable operation of Anbang and protect the interests of …

Adviser to China Central Bank Urges Two-Track Opening for Financial Services

China’s financial services market should be opened further to foreign competition, but liberalization of cross-border capital flows should be done more cautiously, an adviser to China’s central bank said at a forum on Sunday. Financial opening also should an orderly …

Foreign Insurers Benefit as China Tightens Rules on Local Firms

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 insurers rushed to offer him products …