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, […]
Goldman Sachs has become the fifth financial institution to be granted permission to invest in yuan- denominated stocks and bonds. The China Securities Regulatory Commission granted the qualified foreign institutional investor licence to the US bank, having opened up the A-share market last December. UBS and Morgan Stanley have each been awarded an investment quota […]
Oil well investors and derrick workers in the northern part of Shaanxi province have clashed with police at the confiscation with-out compensation by local authorities of as many as 6.000 small. privately-owned oil wells in the area. The Financial Times said. A lobbyist representing the private oil compa-nies told the newspaper that total investment in […]
As Nanjing strives to keep pace with Shanghai and its booming satellite cities, the chemical sector is emerging as a major employer and one of its most important assets. THF view across picturesque Xuanwu Lake to the northern ramparts of Nanjing's ancient city wall was once testimony to the city's past glory as capital of […]
China is set to indefinitely postpone the landmark Qualified Domestic Institutional Investor (QDII) scheme that would have allowed mainland institutions to exchange their RMB and invest it in Hong Kong's capital markets, according to a story in the Financial Times. The China Securities Regulatory Commission (CSRC) opposed the scheme because of fears that it would […]