Cheng Leng
Stories by Cheng Leng
China anti-graft watchdog investigates China Life Insurance chief
Wang Bin is "suspected of serious violations of discipline and law."
China’s Ant Group to shut down crowdfunded medical aid service
The industry has been under regulatory scrutiny since last year.
Ant Group’s consumer finance unit to boost its capital to $4.7b
The company is expected to introduce four new strategic investors.
Chinese regulator updates risk management rules for insurance groups
China has 13 large insurance groups with a total asset of $3.45 trillion under management as of end 2020.
China central bank nod for credit-scoring JV backed by Ant, state firms
If approved, Qiantang Credit Rating will become the third personal credit-scoring firm in China.
Allianz gets approval for full control of China life insurance venture
Many foreign financial institutions are looking to expand their onshore presence in China.
Ant Group starts to differentiate consumer loan biz from bank loans
Ant's consumer finance unit won approval to begin operating in Chongqing city in June.
China’s Ant Group increases registered capital by 47% to $5.4b
The overhaul subjects Ant to tougher regulatory oversight and capital requirements.
China okays Bank of Liaoning’s acquisition of two local banks
Bank of Liaoshen will take over all post-audit assets and liabilities of Bank of Liaoyang and Yingkou Coastal Bank.
China Evergrande to sell $1.5b stake in Shengjing Bank to state firm
Evergrande's stake in the bank would be reduced to 14.75% from 34.5%.
