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 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’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’s top anti-corruption agency says the country’s former insurance regulator has been expelled from the ruling Communist Party and turned over to prosecutors to face criminal charges. A weekend statement by the Central Commission for Discipline Inspection says Xiang Junbo …
China’s Anbang Insurance Group Co. Ltd. and HNA Group Co. Ltd. separately considered buying stakes in German insurer Allianz SE as part of plans to create a global financial empire, people with direct knowledge of the matter said. The conglomerates …
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 …
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, …
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 …
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 …
China’s central bank will take on a bigger role in macro-prudential management and in averting systemic risk in the financial system, President Xi Jinping said at a once-in-five-years government work conference that ended on Saturday. Financial security is a vital …
