After the global economic crisis of 2008, China has now substituted as one of the major financial players. With one fifth of global population, every business wants to enter in China market. However, several political and financial regulations and thousands of failure examples somehow have stopped foreign investors, especially western companies. Unfamiliar investment environment and culture differences can easily put western companies at high risk. The author is originally from Taiwan, the only place on earth shares the most similar culture with China, chose Cathay Life Insurance Company as case company. This article examines how original operation experience and other parameters shifting work for life insurance industry in China; put more focus on those systems which have been duplicated from Taiwan Cathay Life and the interference. In the end, discuss some issues of possible further improvement.

Content

Abstract 5
Acknowledgement 5
Motivation 6
Chapter 1 Introduction 7
Chapter 2 Research Method & Literature Review 11
2.1 Case Study 11
2.2 Literature Review 14
Chapter 3 The Development of Insurance Business in China 19
3.1 An Overview 19
3.2 Stages of Opening China Insurance Business to the World 23
3.3 The development of Chinese insurance industry 26
3.4 The Development of Insurance Market in China 36
Chapter 4 Entering China 40
4.1 Joint Venture (JV) 40
4.2 Taiwanese Insurance Business Entering China Insurance Market 42
Chapter 5 Case Study: Cathay Life 51
5.1 Entering China 51
5.2 Duplication of Taiwan Cathay Life 57
5.3 Restriction/ Interference 60
5.4 Possible Restrictions in Selling Insurance Investment Products 65
Chapter 6 Conclusion and Discussion 68
6.1 Conclusion 68
6.2 Suggestion for further research 75
Reference 76

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