Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
China Seizes Control of Anbang; Acquisitive Chairman Faces Fraud Prosecution
Feb 23 2018 // The Chinese government on Friday seized control of Anbang Insurance Group Co. Ltd and said its chairman had been prosecuted, dramatically illustrating Beijing’s willingness to curtail big-spending conglomerates as it...
India’s City Union Bank Hit by Cyber Heist via SWIFT Payments System
Feb 20 2018 // India’s City Union Bank said on Sunday that “cyber criminals” had hacked its systems and transferred nearly $2 million through three unauthorized remittances to lenders overseas via the SWIFT financial...
XL Catlin Names Carpenter’s Xue as CEO/General Manager of XL Insurance (China)
Feb 16 2018 // XL Catlin announced the appointment of Phil Xue as chief executive officer (general manager) of XL Insurance (China) Co. Ltd. The appointment is pending regulatory approval. Xue will also act as country manager for XL...
Blackstone Eyes Recapturing Anbang Insurance Assets Including Waldorf
Feb 13 2018 // Blackstone Group LP, which scored big four years ago when a company it owned sold New York’s Waldorf Astoria hotel for a record-setting price to a little-known Chinese insurer, may soon get a chance to own the iconic...
China’s ‘Biggest Fiscal Risk Is Pension Risk’ from Aging Population
Feb 6 2018 // China’s pension shortfall is emerging as the next big challenge for policy makers as they intensify their years-long campaign to keep rising debt from derailing the economy. Aging in the world’s most populous...
China’s Services Sector Including Insurance Off to Flying Start in 2018
Feb 5 2018 // China’s services sector got off to a flying start in 2018, expanding at its fastest pace in almost six years as new orders surged and companies rushed to hire more staff, a private survey showed on Monday. Economists...
China Seeks to Broker Sale of a Stake in Anbang Insurance: Sources
Jan 30 2018 // China’s government, which has been probing alleged financial wrongdoing at Anbang Insurance Group Co., is seeking to broker the sale of a stake in the insurer, people with knowledge of the matter said. Central Huijin...
Oil Tanker Disaster to Be Probed by Maritime Authorities from China, Panama, Iran & HK
Jan 26 2018 // The maritime authorities of China, Panama, Iran and Hong Kong on Thursday signed an agreement to jointly investigate a collision in the East China Sea that caused the worst oil ship disaster in decades, according to...
China Weighs Merger of Banking, Insurance Regulators: Sources
Jan 26 2018 // 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...
Insured Natural Disaster Losses in 2017 Were 38% of Economic Costs of $353B: Aon
Jan 24 2018 // Insured losses for last year’s 330 natural catastrophes reached US$134 billion, or 38 percent of their economic price tag of $353 billion, according to a report published by Impact Forecasting, Aon Benfield’s...
SoftBank Plans $400M Investment in Ping An’s Health-Care Portal: Sources
Jan 22 2018 // SoftBank Group Corp. is nearing a deal to invest about $400 million in Ping An Insurance (Group) Co.’s health-care portal ahead of the Chinese company’s initial public offering, people with knowledge of the...
Oil from Sunken Iran Tanker Diffuses into 4 Separate Slicks
Jan 18 2018 // Oil from an Iranian tanker that sank in the East China Sea has diffused into four separate slicks, covering a combined area of just over 100 square kms (39 square miles), Chinese authorites said late on Wednesday. Earlier...
Iran Oil Tanker Creates Oil Slicks Covering 42 Square Miles: Chinese Government
Jan 17 2018 // An Iranian oil tanker that sank in the East China Sea has left two oil slicks covering a combined 109 square km (42 square miles), the Chinese government said late on Tuesday, as maritime police scour for damage and...
Update: Sunken Iranian Oil Tanker Causes Large Oil Slick in East China Sea
Jan 15 2018 // A stricken Iranian tanker that sank in the East China Sea on Sunday in the worst oil ship disaster in decades has produced a large oil slick, Chinese media and Japanese authorities said on Monday, as worries grew over...
Explosions Continue on Iranian Oil Tanker, Hampering Rescue Efforts
Jan 12 2018 // A stricken Iranian oil tanker continued exploding on Friday, hampering rescue efforts, Chinese state media reported, as Japan’s Coast Guard said the ship drifted away from the Chinese coast and into Japan’s...
Owner of Blazing Iran Oil Tanker Hopes Crew Alive in Engine Room
Jan 11 2018 // The crew of an Iranian oil tanker set ablaze at the weekend following a collision could still be alive, the vessel’s owner said, calling on the Chinese authorities working at the scene to prioritize a rescue...
Compensation for Iran Tanker Accident Could Be Complicated by U.S. Sanctions
Jan 11 2018 // The reluctance of foreign banks to deal with Iran could complicate any compensation payments resulting from the collision last week of an Iranian oil tanker and a Chinese cargo ship, sources say. The tanker Sanchi,...
Iranian Oil Tanker Continues to Burn in East China Sea; No Large Scale Spill Expected
Jan 10 2018 // The stricken Iranian oil tanker in the East China Sea could burn for as long as one month, South Korea’s Ministry of Oceans and Fisheries told Reuters on Wednesday, as the blaze raged for a fourth day following a...
Update: High Winds, Toxic Gases Hinder Efforts to Douse Iranian Oil Tanker Fire
Jan 9 2018 // Strong winds, high waves and toxic gases are hindering dozens of rescue boats struggling to locate missing sailors from a stricken oil tanker in the East China Sea and to extinguish a fire that has burned for the past...
China’s Ping An Saw Stock Market Capitalization Climb Whopping $101B in 2017
Jan 8 2018 // Insurance may lack the buzz and cachet enjoyed by tech companies, yet the stock of one Chinese company in the industry has kept pace handsomely with some of the highest-flying champions of the digital revolution. Ping An...
