Chinese regulation News

China Eyes Allowing Foreign Insurers to Own Local Joint Ventures: Sources

China will accept applications early next year from foreign insurers seeking to take control of their local joint ventures and is even weighing giving them full ownership earlier than flagged, people with direct knowledge of the matter said. The regulator …

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 …

China Weighs Merger of Banking, Insurance Regulators: Sources

China is considering a merger of its banking and insurance regulators, people familiar with the matter said, as it seeks to better coordinate its attempts to counter financial risks in the world’s second-largest economy. Government agencies under the direction of …

China Tightens Rules on $15 Trillion Asset Management Sector to Cut Systemic Risks

China’s central bank on Friday issued sweeping guidelines to tighten rules on asset management business, the latest step by Beijing to fend off systemic risks in the country’s rampantly growing shadow banking sector. The guidelines unified rules covering asset management …

China to Further Open Its Economy to Foreign Investments in Insurance, Banking

China, facing a possible decline in foreign investment this year, will become more open for international investors and take steps to better protect intellectual property, its cabinet said on Wednesday. In recent months, the Chinese government has made multiple statements …

China’s Move to Curb Overseas Deals Designed to Avoid Japan-Style Bust

President Xi Jinping’s top economic adviser commissioned a study earlier this year to see how China could avoid the fate of Japan’s epic bust in the 1990s and decades of stagnation that followed. The report covered a wide range of …

Quick Selldown of Anbang’s Overseas Assets May Prove Difficult

As Anbang Insurance Group Co. comes under pressure to reverse a $10 billion-plus global deal spree, a quick selldown of assets may not be so easy. China is said to have asked the acquisitive insurer to sell its overseas assets, …

Chinese Government Asks Anbang Insurance to Sell Overseas Assets: Sources

When Anbang Insurance Group Co. agreed to buy New York’s iconic Waldorf Astoria hotel for $1.95 billion in 2014, the world took notice. It was a defining moment in the global rise of China Inc., a deal that would help …

Fosun’s Chairman Supports Chinese Government Restrictions on Overseas M&A

Billionaire Guo Guangchang, whose Fosun International Ltd. is under scrutiny by Chinese authorities over its foreign mergers and acquisitions, said the government’s clampdown on outbound investments is necessary to take to protect the economy. “The recent scrutiny on overseas investments …