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Results: 1-10 of 15

New York Insurance Department announces cooperation agreement with China

  • Locke Lord LLP
  • -
  • China, USA
  • -
  • July 30 2009

On Tuesday, July 28, 2009, Acting New York State Insurance Department ("NYSID") Superintendent Kermitt Brooks announced that the NYSID entered into a Memorandum of Understanding ("MoU") with the International Department of the China Insurance Regulatory Commission ("CIRC"), China’s insurance regulator

Insurance institutions may invest in corporate debentures

  • Locke Lord LLP
  • -
  • China
  • -
  • January 12 2010

The China Insurance Regulatory Commission (CIRC), the insurance industry regulator in the People's Republic of China, issued a circular on 31 December 2009, permitting insurance institutions to invest in corporate debentures which are issued in the domestic inter-bank market provided that the corporate debentures satisfy the relevant applicable requirements and have a credit rating of AAA or a long-term credit rating equivalent to AAA assigned by domestic credit rating institutions

Draft Tentative Measures for the Administration of the Use of Insurance Funds

  • Locke Lord LLP
  • -
  • China
  • -
  • January 13 2010

The China Insurance Regulatory Commission (CIRC) released on 25 December 2009 Draft Tentative Measures for the Administration of the Use of Insurance Funds (the "Draft Tentative Measures") for public consultation

New accounting standards for insurance companies

  • Locke Lord LLP
  • -
  • China
  • -
  • January 11 2010

The Chinese Ministry of Finance (MoF) and the China Insurance Regulatory Commission (CIRC), the insurance industry regulator in the People's Republic of China, have jointly issued detailed rules requiring insurance companies to adopt new accounting standards in compiling their 2009 financial reports

Enforceability of Hong Kong arbitral awards in mainland China

  • Locke Lord LLP
  • -
  • China, Hong Kong
  • -
  • February 2 2010

The Supreme People's Court of the People's Republic of China recently issued a letter on 30 December 2009 to all Higher People's Courts in mainland China confirming that ad hoc arbitral awards made in Hong Kong and those arbitral awards made in Hong Kong by the International Court of Arbitration of the International Chamber of Commerce and other foreign arbitration institutions are enforceable in mainland China in accordance with the Arrangement concerning Mutual Enforcement of Arbitral Awards between mainland China and the Hong Kong Special Administrative Region signed in 1999 (the "Arrangement"

Hong Kong: yuan liberalisation boosts insurers

  • Locke Lord LLP
  • -
  • China, Hong Kong
  • -
  • July 29 2010

On 20 July 2010, the Hong Kong Special Administrative Region and Beijing signed an historic agreement allowing Hong Kong to become the first yuan clearing centre outside mainland China

Hong Kong and Guangdong sign cooperation agreement

  • Locke Lord LLP
  • -
  • China, Hong Kong
  • -
  • April 16 2010

The Governor of Guangdong Province, representing the Guangdong Provincial Government, and the Chief Executive of the Hong Kong Special Administrative Region (the SAR) signed a Framework Agreement on Hong KongGuangdong Co-operation (the Framework Agreement) at a signing ceremony in Beijing on 7 April 2010

Chinese drywall - Chinese President says that he will look into drywall responsibility

  • Locke Lord LLP
  • -
  • China, USA
  • -
  • April 21 2010

United States Senator Bill Nelson (D-Fla.) reports that, this week, Chinese president Hu Jintao told him this week that he would investigate problems with Chinese manufactured drywall

Chinese drywall Consumer Product Safety Commission finds link between corrosion and Chinese manufactured drywall

  • Locke Lord LLP
  • -
  • China, USA
  • -
  • November 24 2009

On Monday November 23, 2009, the Consumer Product Safety Commission ("CPSC") issued a press statement and study results demonstrating a "strong association" between homes with the Chinese manufactured drywall and levels of hydrogen sulfide and corrosion of metals in those homes

Insurance market performance in 2009

  • Locke Lord LLP
  • -
  • China
  • -
  • March 12 2010

According to the Statistics on China Insurance Business for 2009 recently published by the China Insurance Regulatory Commission (CIRC), total insurance premiums in China received in 2009 amounted to RMB 1.11 trillion, up 13.8 from 2008