Joe Mazur

7 posts

CBIRC announces list of financial institutions eligible to participate in China’s private pension system

While China’s rapidly aging population makes the development of the third pillar of the pension system an increasingly urgent priority, regulators are approaching its rollout with characteristic caution. The initial cohort of financial institutions have been carefully screened for their financial stability and business practices to ensure that the system’s debut is as smooth as possible.
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Regulators adjust rules governing contributions to insurance bailout fund

Following a string of high-profile scandals at major insurers in recent years that required bailouts, regulators want to ensure that the industry’s rescue fund is fit for purpose, adequately funded, and is endowed with rights befitting its role. By requiring bigger pay-ins from riskier insurers, the CBIRC can reduce the risk of moral hazard and incentivize riskier firms to get their balance sheets in order.
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