Birth of a salesman: China's Ping An takes on American giant AIA
Article Abstract:
Chinese insurance company Ping An plans to overtake the dominant American International Group as China's largest life-insurance seller. From 1994 to 1996 it has jumped from nowhere to grab 25% of the market in Shanghai, though AIA still holds 70%. Bad publicity could hurt AIA and Ping An is youthful and energetic, though some observers fear it is growing too quickly and with too little attention to quality. Growth prospects for China's insurance market are huge, likely to soar from $8.5 billion in 1994 to $25 billion in 2000.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
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Cooling off
Article Abstract:
The Chinese economy is set to see slower growth in 1998 as it enters a period of industrial consolidation. Retail sales grew by only 10.7% in 1997, from 13% in 1996, and this trend is likely to continue in 1998. There will also be limited growth for township-owned enterprises. The economic crisis in Southeast Asia will make it harder for the Chinese government to boost growth in direct foreign investment, which is already slowing down. China will also find it harder to export to Southeast Asia.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1998
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Makeover mania
Article Abstract:
Chinese-American Clay Fok has created a market in Shanghai for high-fashion photographic self-portraits for ordinary people at his Glamour Looks studio. The opening of the studio was perfectly timed with a booming economy, and the salon earned $40,000 per month. Customers get to dress up in western clothes and makeup and purchase photographs of themselves. A session costs only 49 renminbi, but clients often purchase 1000-2000 renminbi in photos, including poster-size reproductions.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
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Comment about this article or add new information about this topic:
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