China Economic ReviewMunich Re, the world's largest reinsuranee company, has become the first foreign firm to win a nationwide licence for yuan-denominated reinsurance business. The move is part of a liberalisation of the insurance market following China's accession to the World Trade Organisation. Munich Re's total premiums from insur-ance and reinsurance in China last year were US$37bn, […]
Investing in mainland China usually involves an element of risk, but with an intelligent risk management framework in place, foreign firms can make risk work in their favour, says Prof. Kai-Alexander Schlevogt.
A US$50m convertible bond issue in April by Panva Gas, China's largest supplier of liquefied petroleum gas and piped gas, was sold out in one-and-a-half days. The bonds are listed on the Luxembourg Stock Exchange. The sole bookrunner and lead manager for the issue was Morgan Stanley. The bulk of the proceeds of the sale […]
With national banking reform already agreed in principle, a trial scheme in Wenzhou is designed to show that change is possible, politically. Typically, when the Chinese government wants to introduce reforms, it trials them in select locations for a year or more before rolling them out to other parts of the country. However, this is […]
The debut of foreign banks� internet services came six years after China Merchants Bank first introduced an internet-based payment system in 1997. The bank had attracted 1.4m internet-based customers by late 2001. Meanwhle the Industrial and Commercial Bank of China, which began offering individual internet banking services in 2000, announced that its monthly internet banking […]