--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates
Hotel Service


Hot Links
China Development Gateway
Chinese Embassies

The Ministry of Foreign Affairs
The Ministry of Foreign Trade and Economic Cooperation
Permanent Mission of the People's Republic of China to the UN
Permanent Mission of the People's Republic of China to the United Nations Office at Geneva and other International Organizations in Switzerland
Foreign Affairs College
Institute of American Studies Chinese Academy of Social Sciences
US Life Insurance Giant to Set up Joint Venture in China

MetLife, the largest life insurance company in the United States, declared in Beijing Wednesday that it would set up its first company in China, a joint venture with Beijing Capital Airport Group.

The new company, Sino-US MetLife, will have its headquarters in Beijing and provide life insurance service in China. The cooperation contract between MetLife and the Capital Airport Group has been proposed to the China Insurance Regulatory Commission and relevant government departments for approval.

MetLife gained admission to China on the day China entered the World Trade Organization (WTO). According to China's commitment to the WTO, foreign life insurance investors can hold less than half of their company's shares in China but are free to choose their partners.

MetLife decided to cooperate with Beijing Capital Airport Group, which is not an insurance company, because the group has many customers and is very influential in China, said the international president of MetLife.

The joint-venture company will be mainly based on Chinese skill while making full use of MetLife's staff in Hong Kong and Taiwan. The president said the management staff of the new company are ready to start business any time.

(Xinhua News Agency October 16, 2003)

Chinese, US Business Leaders Optimistic over Trade
Sino-US Economic & Trade Relations Facing Best Opportunity
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688