ANNOUNCEMENT 19 Jun 2018
June 19th, 2018 - The Chinese government announced a policy change that allowed foreign insurance assessment firms into the Chinese market.
NUMBER OF INTERVENTIONS
China Banking Regulatory Commission, June 19th, 2018. (银保监发〔2018〕29号 中国银保监会关于允许境外投资者来华经营保险公估业务的通知)
On June 19th, 2018, the China Banking Regulatory Commission announced that it was allowing foreign insurance assessment firms to set up in China.
The only stipulation is that firms must have been conducting business successfully for three years to be able to do so.
The policy was intended to 'further expand the opening up of the insurance industry and promote the insurance agency industry in China'.
A simultaneous announcement allowed foreign insurance agencies to do the same (see related act for more information).