HSBC to buy out its China life insurance JV partner's 50% stake

HSBC to buy out its China life insurance JV partner's 50% stake

A man walks past a logo of HSBC outside a branch at the financial Central district in Hong Kong, China June 2, 2015. REUTERS/Bobby Yip/File Photo

HSBC Holdings PLC said on Monday its insurance unit had agreed to acquire its China life insurance venture partner‘s 50% stake to own fully the company under the new rules on foreign ownership that came into effect in January.