Chinese e-commerce firm JD.com has received regulatory approval to buy a 30% stake in the Chinese unit of global insurance company Allianz, furthering its push into the country’s financial services sector. JD has gained approval to invest CNY483 million for a stake in Allianz China General Insurance Co, the China Banking and Insurance Regulatory Commission (CBIRC) said. Following the investment, JD will become the second-largest shareholder in the insurance firm, while Allianz will retain a 50% share in its China unit. Three other investors, China Sinda, Shenzhen Huijing Tongda and Snowlight Capital will have 12.4%, 4.27% and 3.33% stakes in the unit respectively after the transaction.

The partners said they have entered into a longterm partnership to develop a digital insurance joint venture in China. Liu Qiangdong, Founder and CEO of JD, had previously revealed the company planned to launch an internet insurance service, and move into the online brokerage business and internet banking. “The development potential of China’s insurance sector is vast, and internet heavyweights possess certain advantages moving into the burgeoning industry, as they have mastered huge customer bases, and could launch tailor-made insurance services by utilizing their big data analytics and precise algorithms,” said Li Chao, Senior Analyst at market research firm iResearch. JD’s move will also encourage traditional insurance companies to expand their online sales channels, and cooperate with more internet firms.

Chinese tech companies are stepping up efforts to tap into the booming online insurance market, including Alibaba Group Holding and Tencent Holdings. In 2013, Alibaba, Tencent and Ping An Insurance (Group) Co of China established the country’s first online insurer Zhong An Online P&C Insurance. Ant Financial Services Group, Alibaba’s financial arm, acquired a controlling 51% stake in Cathay Century Insurance Co in 2016, while Tencent holds a 20% stake in the Hong Kong unit of UK-based insurance group Aviva, and a 15% stake in China’s Hetai Life Insurance Co, the China Daily reports.

On 18 and 19 July, 2018, an official delegation from Fengxian district, visited the Flanders-China Chamber of Commerce and met with Mr Stefaan Vanhooren, Chairman and Ms Gwenn Sonck, Executive Director. This was a follow-up visit to the visit of FCCC Chairman and Director to Fengxian District at the end of the month of June. FCCC organised several company visits to its members.

Fengxian, the coastal city with the population of about 1million, is located in the south of Shanghai, the most developed center of Yangtze River Delta circle in China.

There is less than 1 hour’s drive from two largest international airports, Hongqiao and Pudong. The city’s transportation also includes the highways of S4, S2 and G1501 running through the whole territory. The completed Fengpu Bridge, Minpu Bridge, the cross-river tunnel in Southern Hongmei Road and Jinhai Road and the forthcoming extension section of Metro Line 5, the city’s first bus rapid transit (BRT), Jiamin viaduct, making Fengxian an important part of China’s coastal traffic arteries.

Fengxian has an SME Technological Innovation Zone in Shanghai Fengpu Industrial Park.
Key Industries are: Beauty and health industry; new energy and new material industry; information technology; intelligent manufacturing equipment; energy conservation and environmental protection.

In recent years, Fengxian is getting more attention on its Oriental Beauty Valley concept: an industry chain with integration of R&D design, testing and certification, raw materials procurement, manufacturing and marketing promotion has basically formed. Among 253 cosmetics enterprises in Shanghai, 65 enterprises are located in Fengxian, more than a quarter of its total quantity. In 2017, the cosmetics production and sales revenue in Fengxian accounted for nearly 40% of the municipality. FP industrial park has gathered an industrial cluster of overseas and domestic well-known beauty and health enterprises, such as Nu Skin, Melaleuca, Jala, Kans and Cosmax.

FP industrial park also embraces different foreign enterprises from other industries, such as: Mahle (Germany) and Autoliv (Sweden) for auto parts, Markem Imaje (France) and Rossi (Italy) for equipment manufacturing, JA Solar (American) for New Energy and Pioneer (Japan) for Electronic Information, etc.

FP industrial park would like to support potential investors with great resources, such as land, workshop and financial incentives.

Companies interested to receive more information, please contact: Gwenn Sonck, Executive Director FCCC: gwenn.sonck@flanders-china.be.

Featuring a stellar line-up of officials, academics and business leaders, CKGSB’s 5th China Economic Symposium: What’s Next for the Golden Era of UK-China Relations, co-hosted by the Cheung Kong Graduate School of Business (CKGSB) and the Institute of Directors (IoD), took place in London on July 19, 2018.

Four well-known professors from CKGSB, including Founding Dean Xiang Bing and Xu Chenggang, winner of the inaugural China Economics Prize joined Chinese Ambassador to the UK H. E. Liu Xiaoming, Jaguar Land Rover CEO Ralf Speth, Bank of China (UK) CEO Sun Yu, United Nations Conference on Trade and Development Enterprise Head Tatiana Krylova, Financial Times reporter Jonathan Moules and many more to discuss these, and other, issues.

This event was organized in cooperation with the EU-China Business Association (EUCBA). Mrs Gwenn Sonck, Executive Director FCCC and EUCBA attended the event.

Overview

The EU-China Business and Technology Cooperation Fair
has been held for 12 editions, with an overall attendance of
over 3,570 European enterprises, international organizations, governmental authorities, universities and research institutions as well as more than 6,520 Chinese counterparts. A total of 26,200 B2B matchmaking meetings have been held and 2,527 successful cooperation agreements between European and Chinese delegates were reached so far.

Today, the EU-China Business and Technology Cooperation Fair has become a significant event for development of China relations for most of the EU member states. Attended by wide representations of EU enterprises, as well as high-level officials, including President, Minister, Ambassador, Consul-General and Chairman of Chamber of Commerce, etc. it represents the largest platform for investment, trade and technological cooperation between European Union and China with successful promotion of local governmental cooperation, like launching direct flights, twin city relations, co-building of schools, establishment of consulates, etc.

Key data

• 12 editions already held: a successful track history;
• Participation of ALL European member states and over 3,570 European enterprise representatives;

• Participation of over 6,520 Chinese companies;

• 26,200 B2B Matchmaking sessions held, of which about 30% reached cooperation intention;

• Over 60 European Chambers of Commerce/ associations/government authorities set up branches and representative offices locally, while over 300 European companies settled in Chengdu.

The Qingdao Fair is organized in cooperation with the EU-China Business Association (EUCBA) and the Flanders-China Chamber of Commerce (FCCC).

More information is available in this PDF brochure

Are you looking to be conversant in both Eastern and Western business worlds – leading with a global perspective and China insight?

As China becomes part of the global ecosystem, innovative business models are being created in China that present significant challenges and opportunities for Western companies, demanding new knowledge, new skills and new networks. Based in London, CKGSB Europe continuously seeks to discover Western executives and entrepreneurs who either lack original China insight or are searching for the right partner with whom to do business successfully with China.

The China Mini EMBA+ consists of three intensive modules (nine days in total) designed to help busy senior professionals gain the latest China knowledge and network with China’s globally successful entrepreneurs and companies – our trusted alumni – directly impacting your business performance and activating a results-driven China strategic plan.

Program Dates:
• 28–29 September – London (Friday and Saturday)
• 29 October–2 November – China (Monday to Friday)
• 30 November–1 December – Paris (Friday andSaturday)

Program Fee:
• GBP 9,800 (exc. VAT)
• GBP 8,820 (exc. VAT) – 10% discount to members of the EU-China Business Association
• GBP 8,820 (exc. VAT) – 10% group discount – three or more participants from the same company

(The program fee includes tuition, teaching materials and selected meals during the program. The cost of travel and accommodation are not covered)

Download the information brochure for more information …

Application deadline: End of August 2018

For more information, please visit www.ckgsb.eu
To apply please e-mail Jennifer Wang: jenniferwang@ckgsb.edu.cn

ABOUT CKGSB
Cheung Kong Graduate School of Business (CKGSB) aims to cultivate business leaders with a global vision, a humanistic spirit, a strong sense of social responsibility and an innovative mind-set. Established in Beijing in November 2002 with generous support from the Li Ka Shing Foundation, CKGSB is an independent, non-profit business school.

• 10,000+ alumni of which more than 50% are at the CEO/Chairman level
• CKGSB alumni lead one fifth of China’s most valuable brands
• 400+ China-specific cases and reports
• 70+ global academic awards by faculty

More information about CKGSB …

To find out more about the school, please visit english.ckgsb.edu.cn