China insurance regulation News

China Regulator Orders Large Insurers, Banks to Prepare ‘Living Wills’ to Handle Risks

BEIJING — China’s banking and insurance watchdog issued rules on Wednesday requiring sizable banks and insurers to prepare recovery plans in the unlikely event that they run into financial trouble, as the regulator seeks to strengthen the safety net of …

China Says Its Fintech Antitrust Moves Not Targeted at Private Banks, Insurers

China’s recent antitrust measures are not aimed at its private sector and do not seek to hinder the development of such firms, a senior banking and insurance regulator said on Friday, as the country looks to expand scrutiny of the …

China’s Top Financial Regulator Rejects ‘State Monopoly’ Criticism

China’s top financial regulator dismissed claims the nation is distorting its economy through “state monopoly capitalism” as pressure grows on China to align more with global trade rules. Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, said …

China Signals It Remains Committed to Phase 1 Trade Deal With U.S.

Chinese Foreign Minister Wang Yi assured U.S. executives during a videoconference on Sunday that Beijing remained committed to the Phase 1 trade deal with the United States, the head of the US-China Business Council said. “He definitely re-committed. On the …

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, …