October 27, 2022
Fosun International Ltd. is weighing strategic options for its Hong Kong-based Peak Reinsurance Co. as the Chinese conglomerate looks to pay down debt, according to people familiar with the matter. Fosun is working with a financial adviser as it considers …
October 26, 2022
Global credit rating agency Moody’s downgraded Fosun International Ltd. by one notch on Tuesday and revised its outlook to “negative” from “ratings under review” amid concerns over the firm’s accelerated asset sales. The downgrade to B2 from B1 followed the …
October 18, 2022
China’s Sunshine Insurance Group Co. is planning to seek Hong Kong stock exchange approval for its initial public offering as soon as next week, according to people familiar with the matter. The Beijing-based company may start gauging investor demand once …
August 23, 2022
Allianz SE is in talks with Chinese banks to set up a majority-owned asset management venture in the world’s second-largest economy, two people with direct knowledge of the matter said, aiming to tap a $4.3 trillion market for wealth products. …
August 19, 2022
A Shanghai court on Friday sentenced Chinese-Canadian billionaire Xiao Jianhua, not seen in public since 2017, to 13 years in jail and fined his Tomorrow Holdings conglomerate 55.03 billion yuan ($8.1 billion), a record in China. Xiao and Tomorrow Holdings …
August 8, 2022
Insurance giant AIA Group Ltd. is in talks to purchase an office at a prime location in Shanghai as it expands business in China, according to people familiar with the matter. The Hong Kong-based insurer is considering buying SIIC Center, …
June 20, 2022
Volkswagen AG faces mounting pressure to address allegations of human rights violations in the Chinese province of Xinjiang, where the German carmaker operates a car factory. While there’s no evidence that anyone has been mistreated at the VW plant, the …
June 15, 2022
SHANGHAI – Over 90% of U.S. multinational firms surveyed by the American Chamber of Commerce (AmCham) in Shanghai have cut their annual revenue projections in the wake of the city’s grueling two-month lockdown, the business group said on Wednesday. Of …
May 25, 2022
China’s ruling Communist Party has expelled a former chief accountant of state-controlled PICC Property and Casualty Co. from the party, accusing him of illegal activities and taking bribes, the anti-graft watchdog said on Wednesday. The Central Commission for Discipline Inspection …
May 3, 2022
Ping An Insurance (Group) Co., China’s largest insurer by market value, said profit fell 24% and warned that outbreaks of COVID in the world’s second-biggest economy pose a threat to near-term growth. Net income dropped to 20.7 billion yuan ($3.1 …