Manulife-Sinochem to Open New Offices in China

Toronto-based Manulife Financial announced that its majority-owned Chinese joint venture Manulife-Sinochem Life Insurance Co. Ltd. has received approval from the China Insurance Regulatory Commission to operate in the city of Jinhua and been granted licences for five additional satellite offices. Jinhua, located in Zhejiang province, is a communications centre in southeast China between coastal and inland areas and serves as a land transportation hub. The five additional satellite offices are located in Fujian province, Shenzhen Special Economic Zone and three in Zhejiang province. The new satellite offices will provide a greater sales presence where Manulife already has licensed offices.