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 public. In a statement, the transport …
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 …
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 the biggest shareholder of …
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 …
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 …
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 …
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 …
HONG KONG – 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 …
Hong Kong-based companies with little to no presence in mainland China are the latest to warn about the risks they face from Beijing’s crackdown on businesses, in a further sign of enhanced disclosures sought by American regulators in filings for …
Cash-strapped China Evergrande Group left its offshore bondholders guessing whether it would pay interest on a bond coupon due Wednesday, despite agreeing to settle debt with a Chinese bank in a $1.5 billion stake divestment deal. With liabilities of $305 …
