THE CIGNA Corporation of the United States has been given permission by the China Insurance Regulatory Commission (CIRC) to establish a joint venture life insurance company in China.

　　CIGNA Corporation is the first foreign insurance company to be allowed to do this due to China’s entry into the World Trade Organization, sources with CIRC say.

　　It has chosen a company affiliated with the China Merchants Group as its partner and Shenzhen as the location of the joint venture. CIGNA, one of the top 500 foreign financial companies, has high expectations of Shenzhen. The joint venture will focus on life insurance, accident insurance and supplementary medical insurance products. (Xinhua)