CHINA CONSTRUCTION BANK MAY STEP IN INSURANCE BUSINESS SOON
AsiaInfo Services, January, 2007
AsiaInfo Services 01-18-2007 China Construction Bank May Step in Insurance Business Soon BEIJING, Jan 18, 2007 (SinoCast via COMTEX) -- China Construction Bank (CCB), one of top lenders in the country, has set up a preparatory group for opening an insurance firm and may obtain the approval to do so in the first half of 2007. Zhang Jianguo, president of CCB, reveals in Hong Kong that the bank has submitted application to China Banking Regulatory Commission and China Insurance Regulatory Commission. At the same time, the bank is seeking for cooperating with large insurers at home and abroad to jointly build up the insurance firm. Apart from CCB, China's other two commercial banks, the Bank of Communications and Bank of China, also sent the same applications to the...
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