BoCom to form pension JV with HSBC
The lion bank will have a 20% stake in the venture and an open doorway to tap ChinaÆs fast growing retirement market.
Bank of Communications (BoCom) is preparing to form a pension joint venture with HSBC and will hold a 20% stake in the new business, according to BoCom chairman Jiang Chaoliang.For the purpose of putting the business together, BoCom is applying to the China Insurance Regulatory Commission (CIRC) for a business license to operate an insurance business, following the CIRCÆs recent deregulation that allows banking groups to operate in the insurance/pension space.He Jie Rong, a corporate …
Sign In to Your Account
Access Exclusive AsianInvestor Content!
Please sign in to your subscription to unlock full access to our premium AI resources.
Free Registration & 7-Day Trial
Register now to enjoy a 7-day free trial—no registration fees required. Click the link to get started.
Note: This free trial is a one-time offer.
¬ Haymarket Media Limited. All rights reserved.