Home » China Banking and Insurance Regulatory Commission: Stabilize foreign investors’ expectations and promote catastrophe insurance pilot programs and legislation | Reuters

China Banking and Insurance Regulatory Commission: Stabilize foreign investors’ expectations and promote catastrophe insurance pilot programs and legislation | Reuters

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Reuters, Beijing, July 30-The China Banking and Insurance Regulatory Commission said on Friday that it will stabilize the expectations of foreign investors and fully implement the pre-foreign investment national treatment plus negative list management system; promote catastrophe insurance pilot programs and legislation to include more natural disasters Coverage.

The press release of the “2021 Mid-year Work Symposium and Discipline Inspection and Supervision (TV and Telephone) Symposium” published on the official website of the China Banking and Insurance Regulatory Commission also stated that it is necessary to strictly implement the “third-tier and four-tier” and real estate loan concentration requirements to prevent bancassurance funds from bypassing Illegal flow into the real estate market.

The China Banking and Insurance Regulatory Commission also pointed out that it is necessary to speed up the disposal of high-risk institutions in accordance with the principles of “one line, one policy” and “one location, one policy”, actively respond to the concentrated rebound of non-performing assets, and strictly prevent the resurgence of high-risk shadow banks.

At the same time, it will study a long-term mechanism to curb illegal financial activities, promote the implementation of regulations on preventing and dealing with illegal fund-raising; promote the reform of policy-based bank ledgers, standardize the integrated operation of large banks, and establish a risk isolation mechanism between wealth management companies and parent companies; guide The transformation and development of trust companies.

The recent sharp drop in the Chinese stock market has caused concerns; the state-run Xinhua News Agency issued a post late Wednesday night saying that China’s firm determination to open to the outside world has not changed; another person familiar with the matter disclosed that the China Securities Regulatory Commission held talks with senior executives of major global investment banks on Wednesday night to relax. Tight nerves in financial markets.

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Recently, extremely heavy rainfall in Henan and other places in China has caused huge losses. The China Banking and Insurance Regulatory Commission recently stated that it will guide insurance companies to continue to increase investment, enrich product supply, and give full play to the important role of catastrophe insurance in the emergency management system. (Finish)

For details, please click on the website of China Banking and Insurance Regulatory Commission here

Issued by Ma Rong; Reviewer Wu Yunling

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