China's Hainan Airlines to set up insurance jv with Taiwan's Shin Kong - exec

Beijing (XFN-ASIA) - Hainan Airlines hopes to launch a Beijing-based

insurance joint venture with Taiwan's Shin Kong Financial group early next year,

according to Chen Feng, chairman of Hainan Airlines.

Speaking to reporters at the 17th Communist Party Conference, Chen said preparations for the 50-50 joint venture between Hainan Airlines' parent HNA Group and Shin Kong are underway, after it received approval from the Chinese government.

The venture still needs further approval from other regulators, Chen said.