By Addison Gong 29 Jan 2021 In this round-up, Chinese president Xi Jinping warns of international confrontations from a ‘new cold war’, regulators plan deeper capital market reforms and increased oversight of internet finance platforms, and European insurance giant Allianz receives approval for China’s first fully foreign-owned insurance asset management company. A ‘new cold war’ will cause divisions and confrontations in the world, Chinese president Xi Jinping said at the World Economic Forum’s virtual annual meeting in Davos this week. His remark was widely interpreted as a warning to the US. Xi also said that China will continue contributing to the fight against Covid-19 globally, open up the domestic market, and promote sustainable development and development in technology.