China’s Insurance Regulatory Commission (CIRC) released proposals on Thursday to trial new regulatory rules that would allow the government deeper oversight of insurer’s finances, Caixin Global reports. Under the new system, insurers will receive a rating from A to D based on their ability to manage assets and liabilities, those with lower ratings undergoing greater […]
Category: Brief
The chairman of CEFC China Energy, Ye Jianming, has been taken in for questioning over alleged involvement in economic crimes, private sources told Reuters, although details of the investigation have not been released. CEFC China Energy is one of China’s fastest growing energy companies, having acquired a wide portfolio of assets from around the globe. […]
China decommissioned or suspended 65 gigawatts (GW) of coal-fired power stations in 2017, even more than the government’s target of 50 GW, according to a State Council announcement reported by Reuters. China, the world’s biggest coal power generator, is attempting to transition away from the fuel source in a bid to reduce air pollution levels and […]
A White House official predicts a “frank exchange of views on the [US and China’s] trade and economic relationship” when senior figures from the two governments meet in Washington this week, Reuters reports. Liu He, a senior Chinese economic adviser and close ally of President Xi Jinping, arrived in Washington Tuesday and will meet with […]
Chinese electric vehicle startup NIO is working with a collection of major investment banks to plan its $2 billion U.S. IPO later in the year, sources told Reuters. The firm is raising capital to fuel its investment into new technologies such as driverless and battery-run cars. If the $2 billion figure is reached, this will […]