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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CBIRC highlights achievements in development of property & casualty insurance sector

Although China’s property insurance & casualty industry has experienced significant growth over the past decade, policymakers want to see the sector play a bigger role in supporting the economy and national development goals. As China seeks to move its economy up the value chain, transitioning from a period of fast-paced growth to higher-quality growth, property insurance will be critical to backstopping hard won economic gains.
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CBIRC released new measures to strengthen oversight on life insurance products information disclosure

Although China is the world’s second-largest insurance market, on a per capita basis it is seriously underinsured. The government understands the importance of insurance and wants to see further growth in an industry that was plagued by scandal and weak supervision under the reign of regulator Xiang Junbo, who was taken down for corruption in 2017. 
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