China Life leads in entertaining clients
By Feng Jianmin |
May 15, 2013, Wednesday
|
Print Edition
Print Edition
CHINA Life Insurance spent the most among 252 publicly-listed state-owned companies in China which splashed out a combined 6.5 billion yuan (US$1.1 billion) on entertaining business partners last year, China Business Weekly said yesterday.
China Life spent 1.4 billion yuan on business receptions in 2012, the magazine reported, citing the annual financial statements of listed companies.
The insurer's spending accounted for 0.3 percent of its business revenue in 2012, under the 0.5-percent upper limit set by law.
China Railway Construction Corp was next with 780 million yuan spent last year, or 0.17 percent of its business revenue.
Construction and manufacturing companies tend to spend the most in business receptions, the report said. It is common that larger companies are more likely to spend more to maintain business relationships and woo partners, the report said, citing an unidentified company official.
The report riled investors and the public as they question the transparency of business deals and how funds are used.
China Life spent 1.4 billion yuan on business receptions in 2012, the magazine reported, citing the annual financial statements of listed companies.
The insurer's spending accounted for 0.3 percent of its business revenue in 2012, under the 0.5-percent upper limit set by law.
China Railway Construction Corp was next with 780 million yuan spent last year, or 0.17 percent of its business revenue.
Construction and manufacturing companies tend to spend the most in business receptions, the report said. It is common that larger companies are more likely to spend more to maintain business relationships and woo partners, the report said, citing an unidentified company official.
The report riled investors and the public as they question the transparency of business deals and how funds are used.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
