China insurance regulation News

China’s Communists Appoint Chief of New Financial Regulatory Body

China’s Communist Party appointed Li Yunze, vice governor of Sichuan province, as the party chief of its new financial regulator, the China Banking and Insurance Regulatory Commission (CBIRC) said on its official WeChat account on Wednesday. Reuters had reported earlier …

China Regulator Says Banks, Insurers to Go ‘All Out’ to Bolster Lending

An official at China’s banking and insurance regulator said authorities will use policy tools “flexibly and precisely” at proper times to stabilize the economy, while banks and insurers will “go all out” to bolster funding. Authorities will support an “appropriate” …

China Tells Insurers, Banks They Must Ensure Coal, Power Financing Needs Are Met

China’s banking regulator said on Tuesday that lenders including policy banks must ensure that the financing needs of the coal and power sectors are met so that consumer heating during winter is not affected. Beijing is racing to deliver more …

China’s Regulator Probing Ping An Insurance’s Property Investments: Reuters

SHANGHAI — China’s banking and insurance sector regulator is probing Ping An Insurance Group Co. of China Ltd.’s investments in the property market, two people with knowledge of the matter said, after the firm took a big profit hit from …

China Regulator Orders Large Insurers, Banks to Prepare ‘Living Wills’ to Handle Risks

BEIJING — China’s banking and insurance watchdog issued rules on Wednesday requiring sizable banks and insurers to prepare recovery plans in the unlikely event that they run into financial trouble, as the regulator seeks to strengthen the safety net of …

China Says Its Fintech Antitrust Moves Not Targeted at Private Banks, Insurers

China’s recent antitrust measures are not aimed at its private sector and do not seek to hinder the development of such firms, a senior banking and insurance regulator said on Friday, as the country looks to expand scrutiny of the …

China’s Top Financial Regulator Rejects ‘State Monopoly’ Criticism

China’s top financial regulator dismissed claims the nation is distorting its economy through “state monopoly capitalism” as pressure grows on China to align more with global trade rules. Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, said …

China Signals It Remains Committed to Phase 1 Trade Deal With U.S.

Chinese Foreign Minister Wang Yi assured U.S. executives during a videoconference on Sunday that Beijing remained committed to the Phase 1 trade deal with the United States, the head of the US-China Business Council said. “He definitely re-committed. On the …

China Regulator Pledges Continued Backing of Hong Kong as Financial Center

China’s banking regulator pledged its backing for Hong Kong as a finance hub and reiterated a commitment to opening up the Chinese financial sector amid a deepening standoff with the U.S. China will provide support for its financial institutions doing …

Prudential in Talks to Fully Control China Venture; Weighs Sale of U.S. Business

Prudential is in talks that could lead to it taking full control of its 50:50 joint venture with China’s CITIC and is considering selling some or all of its U.S. business to sharpen its focus on Asia, a source told …