NU Online News Service, Nov. 26, 10:43 a.m. – Manulife Financial Corp., Toronto, says its Manulife-Sinochem Life Insurance Company Ltd. joint venture held a ceremony today to celebrate the official opening of its first branch office in China, which is in Guangzhou.
Joseph Caron, the Canadian ambassador to China, and Shen Bai Nian, Guangzhou’s vice mayor, were two of the participants in the ceremony, which included a Chinese “Lucky Lion Dance.”
Manulife controls 51% of the Manulife-Sinochem joint venture. Sinochem, a company owned by the Chinese government, owns the other 49%. Manulife-Sinochem received permission to open the Guangzhou branch office in October.