Chinese regulators have approved plans for a joint telemarketing venture between U.S. life insurer MetLife Inc. and the owner of the Beijing International Airport, according to the Canadian Press.
The joint venture, to be called Sino-U.S. MetLife, will begin operations almost immediately.
“We have recruited 40 telemarketers to begin telemarketing business in Beijing, and that will happen fairly quickly,” said William Toppeta, president of international operations for the New York-based company.
The U.S. company has a 50 % stake in the 500 million Yuan ($60.5 million) venture to sell life insurance, according to terms approved by the China Insurance Regulatory Commission.
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