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Swiss 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. […]

China has approved eight more foreign insurance companies to operate or expand their business in the country, said Xinhua. The companies are CNP of France, Surich Insurance of Sweden, Allianz and Gerling- Konzern Allgemeine of Germany, Transamerica Occidental Life of the US, Commercial Union and Royal Sun Alliance of the UK, and a Shanghai-based joint […]

Laura Cha, vice chairwoman of the China Securities Regulatory Commission, revealed that China’s domestic share market will be opened to foreign investors by allowing them to buy into funds investing in A-shares after China becomes a member of the World Trade Organisation. Market regulators have said that they would allow foreigners restricted access to the […]

China’s second largest brokerage, Guotai Junan Securities, plans to set up a joint venture fund management company with German insurer Allianz, South China Morning Post said. The two sides have signed a memorandum of understanding to set up a working party to study the issue. Guotai Junan would also sign an agreement to transfer to […]

Chinese banks are not ready for the competition they will face from foreign banks that will come after China’s accession to the World Trade Organisation, said Liu Mingkang, chairman of the Bank of China. China’s banks still face severe problems in their standards of governance and risk management and their levels of governance, profits and […]