China
HSBC receives approval to buy 100% of China life joint venture
It helps the bank with its ‘strategic priority of being a leading wealth manager in Asia’
Hong Kong PWM industry still attractive to Chinese clients
Its legal and financial systems make it an offshore wealth centre that attracts money
Retirement planning products available to Chinese investors
First batch is now offered to individual investors in four cities
Chinese HNWs flock to the UK
Britain is one of the ‘most secure jurisdictions in which to hold assets’
Landmark sale means Allianz first to 100% own China life firm
Rule change in early 2021 opened up the market to foreign insurers