Business Services Industry
CHINA: AGRICULTURAL BANK OF CHINA SIGNS AGREEMENT WITH INSURANCE COMPANY.(New China Life Insurance Company Ltd.)(Brief Article)
IPR Strategic Business Information Database, March, 2002
The Agricultural Bank of China (ABC) has announced that it has signed a cooperation agreement with the New China Life Insurance Co. Ltd. Yang Mingsheng, the Vice-President of the Agricultural Bank of China, stated that following China's entry into the World Trade Organization (WTO), cooperation between banks and insurance companies will help improve the competitiveness of banks when China's banking market faces fierce competition from foreign banks.
The bank and the insurance company will work together to promote insurance services, collect premiums, pay out on insurance claims and provide financial and e-commerce services, according to the China Economic Information Network. -(EMEconomy.com)
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