, Columnist
Like China's Opening? Love Insurance
This is the one area where foreign ownership will bring big rewards.
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Foreign insurers, especially AIA Group Ltd., can break out the champagne: China's opening of its financial markets is great news.
The day after U.S. President Donald Trump left Beijing with billions of dollars of deals with President Xi Jinping, the government announced a clutch of headline-grabbing measures to give foreigners more control of Chinese financial ventures. Too late, for the most part, because domestic competitors are now too big to beat.