China plans to abolish the requirement that domestic insurance companies have to own at least 75 percent stake in insurance asset management joint ventures, the country’s top insurance regulator said on Saturday.

The China Banking and Insurance Regulatory Commission is working to revise related regulations to lift the restriction, encouraging foreign capital to invest in insurance asset management companies, CBIRC Vice-Chairman Cao Yu said at a forum in Shanghai on Saturday.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

MNCs bullish on Chinese internet healthcare sector

Multinational corporations are looking to tap the growing opportunities in the Chinese internet healthcare sector through a slew of tie-ups and alliances with the country’s leading e-commerce retailers such as JD and Alibaba, experts said. Strong policy support from the…

Fracking pioneer Chesapeake Energy files for bankruptcy

Chesapeake Energy, the poster child of the U.S. shale revolution, filed for bankruptcy protection on Sunday. The move comes as the company and industry more broadly has been rocked by a drop in oil and gas prices amid the coronavirus…

Volkswagen Group China, JVs plan to invest 15b euros in e-mobility

BERLIN — Carmaker Volkswagen Group China announced on Monday that it is planning to invest a total of roughly 15 billion euros (about $17.5 billion) together with its joint ventures in e-mobility between 2020 and 2024. According to a statement…

Fox News hosts accuse Democrats and journalists of ‘weaponizing’ coronavirus to attack Trump

New York (CNN Business)Some of President Donald Trump’s most ardent supporters in media have downplayed concerns about the novel coronavirus this week and misled their audiences by telling them that news organizations and members of the Democratic Party are weaponizing…