HKFE Announces Revised Margins For Futures Contracts: New China Life Insurance Co. Ltd. Date
21/01/2021
Please be advised that pursuant to Exchange Rule 617(d) and HKCC Rule 402, the Exchange and the Clearing House have determined that with effect from the commencement of trading on Friday, 22 January 2021 (including the mandatory intra-day variation adjustment and margin call, if applicable), the margin levels of the following Futures Contract will be revised and can be found here.
New China Life Insurance Co. Ltd.
Please be reminded that minimum margin rates are for your firm’s financially strongest clients. Exchange Participants should set their margin requirements according to each client’s individual circumstances.
Standard Life Aberdeen JV to open mainland China pension insurance company
Bloomberg
Standard Life Aberdeen s 50-50 life insurance joint venture on mainland China with Tianjin-based Tianjin TEDA International won final approval from regulators to open a pension insurance company.
The Edinburgh-based insurer said Friday that Heng An Standard Life will become the ninth insurance company overall and the first joint venture involving a foreign partner to get that license.
Heng An Standard Life has had ambitions to offer pensions products in China, reflecting the potential offered by China s rapidly developing pensions market, a news release said.
It will be the second foreign company to compete in China s private pension sector. In October 2014, Sydney-based wealth management firm AMP bought a 19.99% stake in China Life Pension Co. for A$240 million ($211 million). China Life Insurance Co. launched its pension company subsidiary in 2006.
China stock index heads toward record in best ever start to year
David Watkins, Bloomberg News VIDEO SIGN OUT
The priciest equities in more than five years are proving no deterrent for stock traders in China, where the benchmark is now nearing its all-time high.
The CSI 300 Index rose 2.9 per cent on Tuesday to close at a 13-year high, taking this monthâs gain to 7.4 per cent its best-ever start to a year. Shares of brokerages rallied, an indicator that investors are bullish on the marketâs outlook, while turnover topped 1 trillion yuan (US$155 billion) for a seventh day in a sign of increasing activity from retail traders. A 5.1 per cent gain from Tuesdayâs close would push the CSI 300 past its record from 2007.