Foreigners Wooed for Shandong New Insurer.

(From SinoCast China Financial Watch)

SHANDONG, June 22, SinoCast -- In a key step toward boosting the insurance industry, Shandong, a booming Chinese province in the east, is encouraging large enterprises to set up insurance companies. Foreign funds are welcomed during this process. A property and casualty insurance company with estimated registered capital of CNY 500 million to CNY 1 billion is being sponsored by Shandong Luxin Investment Holdings Group. It is marked the first insurer registered in Shandong, the coastal province. The newborn is designed to operate property insurance, liability insurance, compulsory liability insurance, credit insurance, guarantee …