ChinaRealNews

Theme parks in Asia have great development potential

2008-08-01 Beijing
 
According to Bob Masterson, president of the International Association of Amusement Parks and Attractions, theme parks in many Asian countries and regions including Singapore, Korea, India and Macao have great development potential, which is not expected to be affected by the economic conditions in a near future. People believe that the newly established parks can make continuous successes, mainly attributable to the large population in Asian areas.
 

Guangzhou: new regulations benefit local floating population

2008-7-25 Guangzhou

Floating population, who have Temporary Residence Permits in Guangzhou, will be entitled to obtain nine major services including applying for drive licenses, legal assistances and social insurances since August 18, according to a management regulation on floating population issued by Guangzhou Government. Furthermore, this new regulation stipulates that it is illegal for employers to use those who don’t have Temporary Residence Permits.

Wuhan General Group lists on NASDAQ Capital Market

2008-7-25 Wuhan

Wuhan Blower Co., Ltd announced on July 19 that it parent company, Wuhan General Group (China), has listed on the NASDAQ Capital Market, becoming the first Wuhan-based company to commence trading on the market. Founded in 1958, Wuhan Blower is a leader in the Chinese blower industry, and has experienced dramatic growth following its assets restructuring in 2003.

AIA rejects claims for insured’s failure to duty of utmost good faith

2007-07-06 Beijing

AIA recently rejected claims from the mother of a deceased insured as the insured failed to undertake the duty of utmost good faith. The insurer alleged that the insured did not report her history of mental diseases. Insiders said that the insured has the duty to undertake the duty of utmost good faith. As one party to a proposed insurance contract (the insurer) relies upon the other party (the insured) for information about the risk, the rule of utmost good faith applies. This is a duty upon the proposed risk. A material fact is one that would influence the mind of an insurer in deciding whether to accept a risk and what terms to apply.