HSBC gets Approval to buy out China Life Insurance Joint Venture

HSBC (HSBA.L) said on Thursday it had received regulatory approval in China to take full ownership of its life insurance joint venture in the country, as it continues to expand its non-core banking services.

HSBC has got clearance from the Shanghai office of the China Banking and Insurance Regulatory Commission to buy the remaining 50% in its venture HSBC Life China, the bank said.