Chinese market News

China’s Ant Group Issues Financial Self-Discipline Rules on Tighter Regulatory Oversight

BEIJING – China’s Ant Group flagged a set of financial self-discipline rules on Friday amid intense scrutiny on its activities by authorities and the country’s overall tightening of financial technology regulations. The rules, the first of their kind released publicly …

China Emphasizes Communist Party Leadership in Governance of Insurers, Banks

China’s banking and insurance regulator issued draft rules on Friday in which emphasized stronger Communist Party leadership in both state-owned and private banks and insurers to contain corporate governance risks. The draft rules urged state-owned banking and insurance institutions to …

Willis Towers Watson Adds Shanghai to Global Markets Property/Casualty Hub

Willis Towers Watson, the global advisory, broking and solutions company, announced the addition of Shanghai to its global property and casualty hub, aimed at enhancing the company’s global placement model for clients. The Global Markets P&C Hub further strengthens the …

European Companies to Seek Chinese Assets in Sectors Such as Insurance, Healthcare

European companies are expected to hunt for assets in China, mainly in insurance, healthcare and automobile sectors, after the world’s second-largest economy and the European Union agreed to an investment deal last month, lawyers and bankers say. The agreement, which …

China’s Ant Group Wins Final Nod from Securities Watchdog for $35B IPO

China’s Ant Group has won the final nod from the country’s top securities watchdog for the registration of its Shanghai offering, the regulator said on Wednesday, clearing the last regulatory hurdle for its $35 billion dual-listing. Ant, the fintech company …

Third Wave of Severe Flooding Expected in China

China warned that the worst of the deluges that have led millions to be evacuated may be yet to come, after a third wave of floods formed in the upper reaches of the Yangtze River on Sunday. “The flood control …

Excessive Floods Endanger Aging Chinese Dams and Could Cause ‘Black Swan’ Disaster

The dam at a small reservoir in China’s Guangxi region gave way last month after days of heavy rain in a collapse that could be a harbinger of sterner tests for many of the country’s 94,000 aging dams as the …

China to Offer Additional Insurance, Financial Support for Flood-Hit Regions

China’s banking and insurance regulator on Saturday announced measures to further increase credit and lending support and insurance protection for areas that suffered from recent floods. The China Banking and Insurance Regulatory Commission (CBIRC) said in a statement that financial …

China Braces for Continuing Floods in One of Worst Rainfall Seasons on Record

China is preparing for flooding in its northern regions that could potentially hurt crop output amid torrential rain that’s lasted over a month and caused billions of yuan in economic damage. The floods have killed 141 people and affected more …

Heavy Rains Batter China, Raising Flood Alert Levels for Cities on Yangtze River

SHANGHAI — The central Chinese city of Wuhan, epicenter of the new coronavirus pandemic, raised its flood alert level on Monday as torrential rain and thunderstorms battered swathes of the country, including the Yangtze river on which it sits. Wuhan …