Taiwan Life Insurance Co (台灣人壽) said yesterday its Chinese joint venture had gained the approval of the Beijing-based China Insurance Regulatory Commission to set up a branch office in Fuzhou City, Fujian Province.
King Dragon Life Insurance Co (君龍人壽), a 50-50 joint venture formed by Taiwan Life and China’s Xiamen C&D Corp (廈門建發集團) late last year, will be allowed to open for business in Fuzhou City, Taiwan Life said in a statement yesterday.
Chinese insurance authorities gave the green light to King Dragon to sell insurance policies in Fuzhou City on Monday.
The company was already operating in Xiamen City, where it opened in December with an initial investment of 240 million yuan (US$35.1 million).
The approval came after China’s State Council announced on May 14 it would make Fujian Province a priority investment destination for Taiwan before it agrees to expand banking cooperation across the Taiwan Strait.
The announcement “is very positive for Taiwan Life,” the statement said, adding that King Dragon would soon launch points-of-sale in Quanzhou City and Zhangzhou City, both in Fujian Province.
As part of its plan to expand in the Chinese life insurance market, the venture will open one branch office in China every year, the statement said.
Taiwan Life issued the statement before the close of the stock market, where the its share prices rose 5.68 percent to NT$27.9. The stock has risen 71.17 percent so far this year, but was still 47.16 percent lower than a year ago, Taiwan Stock Exchange data showed.
AI REVOLUTION: The event is to take place from Wednesday to Friday at the Taipei Nangang Exhibition Center’s halls 1 and 2 and would feature more than 1,100 exhibitors Semicon Taiwan, an annual international semiconductor exhibition, would bring leaders from the world’s top technology firms to Taipei this year, the event organizer said. The CEO Summit is to feature nine global leaders from Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), ASE Technology Holding Co (ASE, 日月光投控), Applied Materials Inc, Google, Samsung Electronics Co, SK Hynix Inc, Microsoft Corp, Interuniversity Microelectronic Centre and Marvell Technology Group Ltd, SEMI said in a news release last week. The top executives would delve into how semiconductors are positioned as the driving force behind global technological innovation amid the artificial intelligence (AI) revolution, the organizer said. Among them,
When she was in fifth grade, Scarlett Goddard Strahan started to worry about getting wrinkles. By the time she turned 10, she and her friends were spending hours on ByteDance Ltd’s TikTok and Google’s YouTube watching influencers tout products for achieving today’s beauty aesthetic: a dewy, “glowy,” flawless complexion. Goddard Strahan developed an elaborate skin care routine with facial cleansers, mists, hydrating masks and moisturizers. One night, her skin began to burn intensely and erupted in blisters. Heavy use of adult-strength products had wreaked havoc on her skin. Months later, patches of tiny bumps remain on her face, and her cheeks turn
Intel Corp is working with investment bankers to help navigate the most difficult period in its 56-year history, people familiar with the matter said. The company is discussing various scenarios, including a split of its product design and manufacturing businesses, and which factory projects might potentially be scrapped, the people said, who asked not to be identified. Morgan Stanley and Goldman Sachs Group Inc, Intel’s longtime bankers, have been providing advice on the possibilities, which could also include potential mergers and acquisitions, the people said. The discussions have only grown more urgent since Intel delivered a grim earnings report, which sent the
Minister of Economic Affairs J.W. Kuo (郭智輝) yesterday said Taiwan’s government plans to set up a business service company in Kyushu, Japan, to help Taiwanese companies operating there. “The company will follow the one-stop service model similar to the science parks we have in Taiwan,” Kuo said. “As each prefecture is providing different conditions, we will establish a new company providing services and helping Taiwanese companies swiftly settle in Japan.” Kuo did not specify the exact location of the planned company but said it would not be in Kumamoto, the Kyushu prefecture in which Taiwan Semiconductor Manufacturing Company (TSMC, 台積電) has a