A pilot program in China that allows insurers to buy gold for the first time could free up billions of dollars of investment in the metal, adding further impetus to a record-setting rally. Prices hit a fresh peak. Ten insurance …
China’s National Financial Regulatory Administration on Saturday issued guidelines for insurance groups to manage “concentration risks,” asking insurers to hold sufficient capital and liquidity buffers. The guidelines asked insurers to formulate a concentration risk management strategy and mitigation mechanisms and …
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 …
China’s new financial stability law draft bill improved provisions on financial risks prevention and control, according to draft revisions released on Monday. Revisions to the draft bill underwent the second round of review by China’s top legislature, the National People’s …
Vague provisions in Hong Kong’s new national security law around state secrets and links to foreign entities have put on edge many global businesses in the financial hub, with some consultants and hedge funds updating contingency plans and seeking legal …
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 …
China’s financial regulator told its banks and insurers to thoroughly review cyber and data security across all their businesses, underscoring the government’s increased focus on national security and data integrity. In a directive sent at the end of last year, …
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 …
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 …
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 …
