China Economic ReviewSwiss Reinsurance Group is awaiting regulatory approval to enter China’s reinsurance market, China Daily said. When approval is given, the group will set up a wholly owned branch in China, likely to be in Shanghai or Beijing. When approval has been given, the group will become the first foreign firm to offer reinsurance in China. […]
The China Insurance Regulatory Commission has announced the timetable for lifting geographic restrictions on foreign insurance companies’ operations after China joins the World Trade Organisation. Foreign life and non-life firms will be allowed to provide services in Shanghai, Guangzhou, Dalian, Shenzhen and Foshan as soon as China joins and the number will be progressively enlarged […]
The abolition of a 1995 rule prohibiting foreign firms from buying state and legal person shares in listed companies is unlikely to produce a rush of purchases of state-owned enterprises, according to analysts quoted by South China Morning Post. Purchases of stakes held by government institutions and government-controlled enterprises are still subject to restrictions that […]
China's regulators have agreed to let the Hong Kong-based Bank of China International (BOCI) go ahead with preparatory work for setting up a joint venture securities firm in China. BOCI is the investment banking arm of the state-owned Bank of China. However, as a Hong Kong-listed firm it is seen on the mainland as an […]