Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
China’s Xi Maintains Commitment to Open Economy, Insurance Industry
Apr 10 2018 // Chinese President Xi Jinping promised on Tuesday to open the country’s economy further and lower import tariffs on products including cars, in a speech seen as an attempt to defuse an escalating trade dispute with...
Russia’s Insurers May Need More State Bailouts, Says Insurance Association Chief
Apr 6 2018 // Russia’s banking crisis and a weak economy could spell more trouble for its insurance sector, requiring further state support following the bailout of top insurer Rosgosstrakh last year, the head of the...
China’s Anbang Gets $9.7B Capital Injection to Bolster Solvency After Alleged Fraud
Apr 4 2018 // China is injecting 60.8 billion yuan ($9.7 billion) into Anbang Insurance Group Co. as it attempts to contain the fallout after the company’s former chairman was accused of masterminding a multi-billion dollar...
FWD Taps Union Life’s Lau as MD of Greater China, CEO of Hong Kong & Macau
Apr 3 2018 // FWD Group announced the appointment of Ken Lau as managing director, Greater China, and chief executive officer, Hong Kong & Macau, effective March 29, 2018. With more than 27 years’ insurance industry experience...
China’s Largest Courier Firm, SF Holding, Wins License to Deliver Parcels by Drone
Apr 2 2018 // Chinese courier company SF Holding Co. says it’s won a license to operate drones, opening up a new potential frontier for package delivery in the world’s second-largest economy. SF, the nation’s largest...
China’s New Insurance & Banking Watchdog to Continue Opening Financial Sector
Apr 2 2018 // 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...
Ex-Chairman of China’s Anbang ‘Doesn’t Deserve Leniency,’ Say Prosecutors
Apr 2 2018 // Chinese prosecutors said Wu Xiaohui, the former chairman of Anbang Insurance Group Co., doesn’t deserve leniency as the one-day hearing of a fundraising fraud and embezzlement case against him wrapped up. Wu...
Former Chairman of China’s Anbang Pleads for Leniency in $10B Fraud Trial
Mar 29 2018 // The former chairman of China’s Anbang Insurance Group Co Ltd requested leniency at the end of his high-profile trial in Shanghai for alleged economic crimes, including fraud and embezzlement involving more than $10...
China’s Ping An Plans $3B IPO of Financial Management Portal OneConnect: Sources
Mar 29 2018 // Ping An Insurance (Group) Co., China’s largest insurer by market value, is starting preparations for an initial public offering of its OneConnect financial management portal that could raise as much as $3 billion,...
Anbang’s Former Chairman Goes on Trial, Accused of Masterminding $10.4B Fraud
Mar 28 2018 // A Shanghai court accused former Anbang Insurance Group Co. Chairman Wu Xiaohui of masterminding a 65.2 billion yuan ($10.4 billion) fraud, using unauthorized sales of investment-type policies to prop up the acquisitive...
Chinese Tech Giant Baidu to Test Self-Driving Cars in Beijing
Mar 23 2018 // China’s capital city has given the green light to tech giant Baidu Inc to test self-driving cars on city streets, an important step as the country looks to bolster its position in the global race for autonomous...
China’s Fosun Still Interested in Acquiring Greek Insurer if Winning Bid Collapses
Mar 23 2018 // Fosun International Ltd came up short in its bid to buy National Bank of Greece SA’s insurance unit, but the Chinese conglomerate is still willing to swoop in if the winning bid collapses, albeit at a different price...
Foreign Insurers Benefit as China Tightens Rules on Local Firms
Mar 21 2018 // When Zhang Xixi, a 25-year-old staffer at an online financial company in China’s southern province of Guangdong, decided last year to buy personal insurance for the first time, he was swamped with options. Local...
China Names Guo to Head New Insurance, Banking Regulatory Commission
Mar 21 2018 // China has named Guo Shuqing as the head of the newly formed regulator for the banking and insurance sectors, financial publication Caixin reported on Wednesday without citing a direct source. Guo had been the head of the...
AXA Investment Managers Bullish About Europe as Asian Investors’ Interest Grows
Mar 20 2018 // Andrea Rossi doesn’t buy into the story that Europe is a dead end for growth. In fact, he sees luring Asian investors to his continent as one of the key ways AXA Investment Managers will expand in years to come. The...
China’s 2nd Largest E-Commerce Firm, JD.com, Seeks to Expand in Insurance, Banking
Mar 16 2018 // JD.com Inc’s finance arm is looking to raise about 12 billion yuan ($1.9 billion) in fresh equity that could see its value double from last year to more than $20 billion, three people with knowledge of the matter...
$1.5B Settlement in Syngenta Modified Corn Seed Lawsuit
Mar 14 2018 // A $1.5 billion settlement was reached in a class-action lawsuit covering tens of thousands of farmers, grain-handling facilities and ethanol plants that sued Swiss agribusiness giant Syngenta over its introduction of a...
China to Merge Banking, Insurance Regulators in Big Government Shake-Up
Mar 13 2018 // 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...
China’s Anbang ‘Committed’ to Overseas Units After Government Takeover
Feb 26 2018 // Anbang Insurance Group Co Ltd. said on Monday it fully supported the Chinese insurance regulator’s decision to temporarily take control of the company and remains committed to the development of its overseas...
Q&A on China’s Takeover of Giant Anbang Insurance
Feb 23 2018 // The once-mighty Anbang Insurance Group Co. has been temporarily taken over by China’s regulators and its boss is facing prosecution on charges including fundraising fraud and embezzlement. Anbang’s meteoric...
