Manulife expanding in China

Manulife Financial (TSX:MFC) announced Thursday it has expanded its presence in China yet again.

TORONTO — Manulife Financial (TSX:MFC) announced Thursday it has expanded its presence in China yet again.

Manulife-Sinochem Life Insurance Co., a joint venture led by the Canadian insurance company, has received approval to operate in the city of Jinhua and was given licences for five satellite offices in three provinces.

The joint venture of Manulife and the China Foreign Economic and Trade Trust & Investment Company is now licensed in 39 Chinese cities.

Manulife said the new insurance licences were granted shortly after Prime Minister Stephen Harper’s recent trip to the country.

“We are grateful for the continued strong support from our excellent Chinese partners and from the Canadian and Chinese governments as we continue to expand our presence in this very important and fast growing insurance and wealth and asset management market,” said Donald Guloien, Manulife’s president and chief executive officer.

Jinhua, with a population of 4.6 million, is a communications centre in southeast China and is one of the major hubs of land transportation in the country. The five satellite offices are in the Fujian province, the Shenzhen Special Economic Zone and the Zhejiang province.

“The granting of these six new licences is a very welcome step forward for Manulife-Sinochem as we continue to expand to serve China’s fast growing insurance needs,” said Manulife-Sinochem chairman Marc Sterling.

Just Posted

Cannabis legalization won’t impact one Red Deer pot dispensary

Nothing changes for Compass Cannabis Clinic in Red Deer despite legalization

Cannabis retail store will open later in October in Red Deer

Two cannabis stores coming to downtown Red Deer

Neighbours drop opposition to Red Deer County communications tower

Communication tower to be located in Balmoral Heights

Legal cannabis comes with many unknowns: Red Deer County councillors

Councillors question how rural municipalities will be able to enforce cannabis regulations

Kitten season puts pressure on Red Deer shelter

More public education needed to control cat population

WATCH: Two weeks away from Canadian Finals Rodeo in Red Deer

In just two weeks, Ponoka’s Shayna Weir will compete with the best… Continue reading

‘Start low, go slow’: Experts walk bud beginners through cannabis 101

With the countdown to cannabis legalization Wednesday ticking towards 4-20, some novice… Continue reading

NHL stays with status quo as Canada pot legalization looms

As Riley Cote took and delivered countless punches over more than a… Continue reading

Paul Stanley: Kiss farewell tour could include ex-members

ATLANTIC CITY, N.J. — It won’t be all night, but former members… Continue reading

Judge tosses Stormy Daniels’ defamation suit against Trump

WASHINGTON — A federal judge dismissed Stormy Daniels’ defamation lawsuit against President… Continue reading

Canada open to growing trade with China now that USMCA is a done deal: PM

TORONTO — Canada is open to doing more business with China now… Continue reading

Pot shop raids “highly unlikely” on Wednesday: head of police chiefs

VANCOUVER — Police departments across Canada are fully prepared for marijuana legalization… Continue reading

Campers will be able to smoke cannabis at campsites in Canada’s national parks

Parks Canada says visitors should do their research on cannabis before going… Continue reading

U.S. pot firms urge Trump to deny Canadian producers’ ‘competitive advantage’

WASHINGTON — An American cannabis producer is warning President Donald Trump that… Continue reading

Most Read