C-ROSS Phase II goes into effect

As China’s insurance sector continues to grow, developing a robust risk-focused framework that ensures companies have sufficient reserves will be crucial to overall financial stability. An insurer’s failure to meet payouts on the policies it has underwritten could have severe knock-on effects throughout the financial sector and could damage consumer confidence in insurance more broadly…
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CBIRC, CBA establish a Financial Talent Pool to improve corporate governance at smaller financial institutions

A string of scandals and failures at smaller Chinese financial institutions over the past few years has convinced regulators that corporate governance is a major weak link that poses significant risks to the financial system. Getting new, experienced, and CBIRC-approved blood into troubled local lenders at senior executive and board level should…
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