Hong Kong Reappoints Cheung as Chief of Insurance Regulator

Hong Kong reappointed Clement Cheung as chief executive officer of the Insurance Authority, extending his leadership as the financial hub braces for tighter mainland oversight on cross-border capital flows.

Financial markets have been gripped by concern in recent days over reports that China was introducing a new tax on returns from offshore insurance policies. The significance of the episode could prove more complex than the initial market reaction suggests. According to a report from Caixin, Chinese tax authorities have