The China joint venture of Manulife Financial has been granted approval to sell life insurance products in Guangzhou, reported South China Morning Post. According to the Canadian company, this is the first time that a foreign-invested life insurance joint venture has set up a branch office in the country. The wholly-owned American International Assurance has […]
Category: Banking & Finance
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All dressed up
With new regulations in place, foreign fund management companies are eager to do business in China. However, it is taking them a little longer than expected to get going.
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Blazing a trail
Once again Shenzhen is taking a lead in the country’s economic development, pushing ahead with a pilot package of WTO-inspired reforms that could serve as a blueprint for the rest of China.
A consortium led by international investment bank Morgan Stanley has resubmitted its application to set up a joint venture to dispose of distressed state-owned enterprise assets, after making changes to its initial plan, the Financial Times said. The consortium agreed last November to buy non-performing loans with a face value of US$1.3bn in a venture […]
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Software group buys brokerage
Peking University Founder Group has received approval from the China Securities Regulatory Commission to take control of Zhejiang Securities, Shanghai Securities News said. Founder, one of China's biggest software designers, will pay Yn230m for the stake in the firm, which had assets valued at Yn538m at the end of last year. The brokerage operates 15 […]