皇冠体育app

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Hao Yansu, Director of the Insurance Department of the Central University of Finance and Economics, said 皇冠体育app should approve the establishment of wholly foreign-owned life insurers.

According to 皇冠体育app's commitments to the World Trade Organization (WTO), foreign life insurers will be permitted a 50-percent foreign ownership in a joint venture with a partner of their choice, but the policy has resulted in internal losses due to corporate governance problems and unfair competition.

"The original ideas that we would learn from joint ventures hasn't happened. Most of them are 50-50 joint ventures, and foreign insurance companies won't bring all their skills into play to export capital and experience to Chinese market, so 皇冠体育app can't learn the essentials from foreign partners," Hao said during a Reuters interview.

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