The Taiwanese authorities are preparing to lift their ban on cross-straits insurance business, though they will retain limits on the total value of policies that can be written on the mainland, Associated Press reported in August. Currently, five companies have representative offices on the mainland and several told Shanghai Daily that they expected the ban […]
Category: Banking & Finance
Swiss Reinsurance, the world's second largest reinsurer, has been granted permission to open a reinsurance branch within a year. This would make Swiss Re, along with Munich Re, the first foreign reinsurers in China, said South China Morning Post. Swiss Re said it would open a wholly owned branch in Shanghai or Beijing to offer […]
Stock market regulators have approved new rules allowing foreign brokerages with representative offices established in China for at least a year to apply for special membership of China's stock exchanges, Reuters reported. The new rule, which would give overseas brokers non-voting rights, took effect at the end of July. At the same time the Shanghai […]
Beijing Peking University Founder Group, China's second largest personal computer maker, has moved to take a controlling stake in Zhejiang Securities, according to sources at the troubled south China brokerage reported by South China Morning Post. Founder was waiting for regulatory approval to acquire a 51 per cent stake from the brokerage's largest shareholder, Zhejiang […]
Anheuser-Busch, the world's largest brewer, has signed an agreement to buy 22 per cent of Tsingtao Brewery, 21st Century Business Herald said. The American brewer now holds 27 per cent of Tsingtao's shares listed on the Hong Kong stock market, making it the second largest shareholder in the company after Qingdao city's asset manage- ment […]