When a group of Chinese investors set up CISG, a Guangdong-based insurance broking firm, they could only have dreamed of listing on the US stock market. In 1998 the Chinese economy had yet to achieve lift-off and sales of insurance products were at a low base.

Nine years on and millions of customers later, CISG is nearing the reality of an overseas flotation: it has enrolled Morgan Stanley to assist with a US listing, expected over the next 12 months.