July 3, 2024
China is moving closer to unveiling its financial stability law, which includes setting up a fund to rescue troubled financial institutions, as part of Beijing’s broader efforts to prevent systemic financial risks in the world’s second-biggest economy. A revised draft …
April 11, 2024
Ping An Insurance (Group) Co.’s trust business delayed repayment on a property-linked investment product, showing how the financial giant’s asset-management operations are still reeling from China’s prolonged real estate downturn. Ping An Trust apologized on Wednesday to its customers for …
March 15, 2024
China’s financial sector regulator is looking into the exposure of the Hong Kong units of domestic banks and insurers to the country’s local government debt, three sources with knowledge of the matter said, as part of its efforts to contain …
January 10, 2024
Italy’s biggest insurer Generali on Wednesday said it would acquire full control of a non-life insurance joint-venture in China by buying out local partner CNPC Capital for around 99 million euros ($108 million). Generali said it planned to expand its …
November 9, 2023
A report that Chinese authorities asked Ping An Insurance Group Co. to rescue Country Garden Holdings Co. sent the insurer’s stock sliding, wiping out $3.1 billion from its valuation. Distressed developer Country Garden, on the other hand, jumped 12% to …
November 8, 2023
Ping An Insurance (Group) Co. said it doesn’t hold any shares in Country Garden Holdings Co. and has no plans to acquire the distressed Chinese developer, refuting a report that sent the insurance giant’s stock tumbling on Wednesday. The insurer …
November 1, 2023
China has taken a move that effectively allows insurance firms to make longer-term investment in shares, adding to a drumbeat of support measures to revitalize the country’s stock market. The Ministry of Finance will from now on evaluate insurers’ return …
September 18, 2023
Authorities detained some staff of the money management business of China Evergrande Group, a sign that the saga around the defaulted developer at the heart of the nation’s property crisis has entered a new phase involving the criminal justice system. …
September 12, 2023
China’s financial regulator on Sunday reduced the risk weighting it attaches to insurance companies’ holdings of blue-chip shares and tech stocks, encouraging them to invest more in the country’s lagging stock market. The National Administration of Financial Regulation (NAFR)said on …
July 11, 2023
The announcement of a nearly $1 billion fine by Chinese regulators on Ant Group has drawn a line under the fintech giant’s woes and given hope to investors that a regulatory crackdown on China’s broader technology sector is over. Ant’s …