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It's disclosed by the relevant department that China has decided to admit 12 foreign insurance firms into it’s market and the list is to be announced in succession after China's imminent entry into the WTO to show China's sincerity in honoring its promise of opening the market.
It's reported that these lucky companies are four US companies, namely, Trans America, New York Life, Met Life and CIGNA; five companies from the European Union: Allianz and Gerling of Germany, AXA of France, CGNU of Britain and Scadinavia of Denmark; two companies of Japan and one of the ROK.
Sources say that these companies have learned of this good news and some of the approved firms have begun to contact their Chinese partners including four Chinese insurance companies ratified to be established by the China Insurance Regulatory Commission.
(People’s Daily 11/14/2000)
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