Beijing lacks funds to overhaul public welfare system

Article Abstract:

China's plans to redesign the social welfare system will be hindered by a lack of money. The Communist government's policies of providing free or subsidized education, housing, health care and pensions cannot be sustained, so the current government had launched an effort to have state-run enterprises turn a profit but not pay for worker benefits. But without retirement or unemployment systems, the companies cannot lay off workers in order to become profitable, and a pilot project in the northeast has run out of fund after just a few months of operation.

Government domestic functions, Health, Educatn & Welfare Programs, Administration of Human Resource Programs, Economic policy, Social policy

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Deal gives AIG a head start over foreign rivals

Article Abstract:

American International Group Inc. will receive licenses from the Chinese government to establish wholly owned insurance companies in four cities. As part of the deal, the insurer will have to operate any future ventures with a Chinese partner. The government also awarded insurance licenses to Nippon Life Insurance Co., Metropolitan Life Insurance Co., and New York Life Insurance Co.

Insurance, Insurance Carriers and Related Activities, Services development, INSURANCE CARRIERS, Insurance industry, American International Group Inc., Licensing agreements, New York Life Insurance Co., AIG, Metropolitan Life Insurance Co., Nippon Life Insurance Co.

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