Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
Threat of War in Ukraine Biggest Risk for Insurers of Beijing Winter Olympics
Feb 4 2022 // The threat of war between Russia and Ukraine is the biggest risk for insurers offering coverage during the Beijing Winter Olympics as an outbreak of hostilities could force team withdrawals or appearance cancellations,...
Officials of AstraZeneca China Summoned About Probe of Suspected Insurance Fraud
Jan 31 2022 // Chinese authorities summoned officials of AstraZeneca China regarding an investigation of suspected medical insurance fraud by the company’s employees, the National Healthcare Security Administration (NHSA) said on...
China Strengthens Anti-Money Laundering Rules for Financial Services Firms
Jan 26 2022 // China on Wednesday published revised rules designed to strengthen financial firms’ ability to combat money laundering. The revised rules, which regulates how financial institutions conduct due diligence on clients,...
Court Agrees Harvard Not Responsible for Legal Fees of Professor with China Ties
Jan 12 2022 // Harvard University is not required to pay legal defense fees for a professor who was found guilty of hiding his ties to a Chinese-run recruitment program, Massachusetts’ highest court ruled Monday. In its decision,...
China’s Anti-Graft Watchdog Probes Chairman of China Life Insurance
Jan 10 2022 // SHANGHAI – China’s Central Commission for Discipline Inspection (CCDI) has placed Wang Bin, the chairman of China Life Insurance Co. Ltd., under investigation, the bureau said on Saturday. Wang is “suspected...
China Evergrande’s Investors Protest, Shouting ‘Return Our Money!’
Jan 4 2022 // GUANGZHOU, China – Investors in financial products issued by China Evergrande Group protested outside the cash-strapped company’s offices in Guangzhou on Tuesday, with many worried that their returns would be...
China Approves HSBC Acquisition of 100% of Insurer Joint Venture
Dec 30 2021 // HSBC said on Thursday it had received regulatory approval in China to take full ownership of its life insurance joint venture in the country, as it continues to expand its non-core banking services. HSBC has got clearance...
China’s Alibaba Fires Woman Who Accused Boss of Sexual Assault in #MeToo Setback
Dec 13 2021 // Alibaba Group Holding Ltd. has fired a woman who accused a manager of sexual assault, a surprise move that came just months after China’s e-commerce leader admitted bungling its initial response to the...
Argenta Syndicate Management to Withdraw from Lloyd’s China Platform
Dec 8 2021 // Argenta Syndicate Management Ltd. (ASML), a subsidiary of Argenta Holdings Ltd., announced it will cease underwriting all new and renewal business relating to the Lloyd’s China platform (LICCL) with immediate effect...
China’s Regulator Issues New Rules for Risk Management of Insurance Groups
Nov 30 2021 // China’s banking and insurance regulator on Tuesday issued new rules governing the risk management of insurance groups, which will step up supervision, limit holdings of non-core units and regulate their investments...
China Sets Rules to Protect Drivers’ Rights in Ride-Hailing Industry, Requiring Insurance
Nov 30 2021 // BEIJING – China outlined new rules on Tuesday to safeguard the rights of drivers in its giant ride-hailing industry, requiring operators of the services to provide them with social insurance and make their earnings...
Swiss Re and China Tech Giant Baidu Partner to Advance Autonomous Driving Industry
Nov 19 2021 // Swiss Re and Chinese tech giant Baidu are teaming up to further develop the autonomous driving industry, announced Swiss Re. The partnership between Swiss Re and Baidu aims to further develop the autonomous driving...
China’s Ant Group Reports 39% Rise in Profits on Investment Gains
Nov 18 2021 // Ant Group Co.’s profit rose an estimated 39% in the June quarter, attributed to a gain in investments as billionaire Jack Ma’s fintech giant grapples with the impact of China’s rapidly shifting rules for...
Allianz Becomes First Wholly Foreign-Owned Life Insurer in China
Nov 17 2021 // Allianz said on Wednesday that its Chinese life insurance business had received regulatory approval that will allow it to become the first wholly foreign-owned life insurer in China created from a joint venture. Many...
Chinese Insurer Ping An Plans to Sell $2.1B Stake in Autohome: Sources
Nov 12 2021 // HONG KONG – Financial conglomerate Ping An Insurance Group of China is seeking to offload its 44% stake in auto services portal Autohome, three people familiar with the situation told Reuters. Ping An, which is currently...
Hong Kong Insurer FWD Adds Warnings About China Risks in SEC Filings for IPO
Nov 3 2021 // Hong Kong-based insurer FWD Group has told U.S. regulators it cannot guarantee that Beijing would not seek to “intervene or influence” its operations, adding to its list of risk factors as it tries to push...
U.S. Insurers’ Face ‘Minimal Exposure’ in China’s Evergrande Property Crisis
Oct 18 2021 // The U.S. insurance industry faces only minimal exposure to land development companies in China as one of that country’s largest property developers, Evergrande, appears on the brink of collapse. According to analysts...
China Provides Assurances that Evergrande Crisis Is Being Contained
Oct 18 2021 // For months in the runup to the 2008 financial crisis, banking heavyweights from Federal Reserve Chair Ben Bernanke on down said the turmoil in subprime mortgages would be “contained.” That phrase is now making...
China Urges Development of Accident Insurance, Pension Products for Gig Workers
Oct 18 2021 // China’s top banking and insurance regulator said it would encourage insurers to accelerate the development of commercial pension products and accident insurance for gig-economy workers such as couriers and takeout...
Ping An’s Big Drop in Market Value Driven by Investor Wariness Over China Uncertainties
Oct 14 2021 // China’s Ping An Insurance (Group) Co. has long argued it should be treated like a high-growth technology company instead of a seller of life policies. After a $90 billion plunge in its market value, it’s now...
