CHINA – China makes way for insurance
China has eased restrictions on foreign companies in parts of its insurance industry in a possible effort to reverse a slide in investment from abroad.
Beijing doesn’t publicize many of its regulatory changes and it is not uncommon for the first word to come from the companies who were affected.
In May, foreign insurers were allowed for the first time to sell third-party liability auto insurance in China.The decline in foreign investment is a setback for government efforts to encourage spending by companies as part of its effort to reverse China’s deepest economic downturn since the 2008 global crisis.
