Amendment of Regulations on Foreign-funded Insurance Companies and Banks

The State Council promulgates and amends the Regulations on the Administration of Foreign-funded Insurance Companies and the Regulations on the Administration of Foreign-funded Banks on 14th October, which shall come into effect on the date of promulgation. Regulations on the administration of foreign-funded insurance companies clearly stipulate that foreign insurance group companies may set up foreign insurance companies in China, and shall not be required to have more than 30 years insurance business for and have established representative agencies in China for more than two years. Regulations on the Administration of Foreign-funded Banks state that: To cancel the conditions ofRead More →

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