Chinese market News

China Formalizes Easing of Foreign Investment Curbs on Range of Industries

China is slowly following through on pledges to open up to foreigners, as an impending trade war with the U.S. focuses attention on Beijing’s grip over doing business in the world’s second-largest economy. On Thursday the government formalized the easing …

Chinese Tech Firms Seek to Shake Up Stake-Run Health Sector with AI and Big Data

In the eastern Chinese city of Hangzhou, an ambulance speeds through traffic on a wave of green lights, helped along by an artificial intelligence (AI) system and big data. The system, which involves sending information to a centralized computer linked …

China’s State-Run Insurance Funds Feel Strain of Baby Boom

Chinese President Xi Jinping wants women to have more babies. That’s proving to be a costly goal. After government-run insurance funds paying for maternity leaves suffered revenue shortfalls for the first time, Xi’s government has begun taking steps to shore …

China to Raise Foreign Ownership Limit in Financial Services by Year-End

China laid out a clearer timetable on Wednesday for opening its financial sector to more foreign investment by the end of 2018, as Beijing looks to fend off growing criticism from the United States and others that it unfairly limits …

China’s Xi Maintains Commitment to Open Economy, Insurance Industry

Chinese President Xi Jinping promised on Tuesday to open the country’s economy further and lower import tariffs on products including cars, in a speech seen as an attempt to defuse an escalating trade dispute with the United States. While most …

FWD Taps Union Life’s Lau as MD of Greater China, CEO of Hong Kong & Macau

FWD Group announced the appointment of Ken Lau as managing director, Greater China, and chief executive officer, Hong Kong & Macau, effective March 29, 2018. With more than 27 years’ insurance industry experience across the region, Lau “will lead FWD’s …

China’s New Insurance & Banking Watchdog to Continue Opening Financial Sector

China’s new banking and insurance regulator said on Thursday [March 29] it will deepen the reform and opening up of the banking and insurance systems and will crack down on financial risk. In a statement, the regulator also said it …

China to Merge Banking, Insurance Regulators in Big Government Shake-Up

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 of President Xi Jinping’s agenda …

XL Catlin Names Carpenter’s Xue as CEO/General Manager of XL Insurance (China)

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 Catlin in China, coordinating all …

China’s ‘Biggest Fiscal Risk Is Pension Risk’ from Aging Population

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 country means pension contributions by workers no …