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Report: China regulators approve 1st pension insurance JV

China-based Heng-An Standard Life Insurance Co. Ltd. has obtained regulatory approval to set up a pension insurance company, according to multiple media reports.

The approval to set up Heng-An Standard Pension Insurance Co. Ltd. makes it the first foreign joint venture pension insurance company in China.

Heng-An Standard Life Insurance is owned by U.K.-based Standard Life Aberdeen PLC and Tianjin TEDA International Holding Co.