January 4, 2022
GUANGZHOU, China โ 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 sacrificed to keep real estate projects afloat. Members of the …
November 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 in other companies. The move is aimed at curbing …
November 30, 2021
BEIJING โ 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 public. In a statement, the transport …
November 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 foreign financial institutions are looking to …
November 12, 2021
HONG KONG โ 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 the biggest shareholder of …
October 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 a comeback in Beijing as regulators …
October 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 deliverymen. China has in recent years experienced a delivery boom …
October 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 priced more like a …
October 13, 2021
China is inspecting the nation’s financial regulators, biggest state-run banks, insurers and bad-debt managers for the first time in six years to root out corruption in its $54 trillion financial system. A team led by the Central Commission for Discipline …
October 12, 2021
HONG KONG โ China Evergrande Group on Tuesday missed its third round of bond payments in three weeks, intensifying market fears over contagion involving other property developers as a wall of debt payment obligations come due in the near-term. Some …