China
Pacific Insurance unit buys stake in Chinese asset manager
China Pacific Insurance Co. (CPIC), the country’s third largest life insurer, has bought a 51% stake in Chinese fund management company GTJA Allianz Fund Management and will share ownership of the firm with Germany’s Allianz.
Joint ventures give fund managers best chance of China success
The path to success in China for foreign fund management companies lies in joint ventures with local firms, even though wholly foreign-owned enterprises (WFOE) can now launch investment products on the mainland, says Xianzhou Jiang, vice chairman and chief executive of China Construction Bank (Asia).
China’s top insurance regulator sacked for serious violations
The chairman of the China Insurance Regulatory Commission (CIRC) was removed from his post on Monday night for suspected “serious disciplinary violations”, a term covering abuses from graft to financial misconduct.
UBS AM launches cross border Hong Kong platform
UBS Asset Management has launched a Hong Kong mutual fund platform, setting sights on distribution into the onshore China market, said Markus Egloff, head of wholesale client coverage for Asia ex-Japan.
Tighter rules loom for Chinese insurers amid corruption probe
China’s insurance regulator is looking to tighten its grip on the industry as one of its top officials faces a corruption inquiry into a wave of blockbuster global deals that are raising concerns about financial risk in the world’s second-largest economy.