Corporate Governance

Focus on the establishment, termination and liquidation of foreign-invested insurance companies and their branch organizations.

The Provisions stipulates detailed regulations in relation to company registered capital, including its amount, method of contribution, asset appraisal, form of payment, increase or decrease, and the corresponding procedures, rights and liabilities.

Replaced the provisions of the same name promulgated by the CIRC on January 13 2000 and amended on March 15 2002.

By Jonathan [email protected] State Development and Reform Commission (SDRC), the People's Bank of China and the China Banking Regulatory…

A State Council abolishment decision has dropped the approval procedures for most representative offices, and only a registration procedure remains.

The Administration of Insurance Companies Provisions became effective on June 15 2004. They are applicable to domestic insurance companies, and are generally applicable to foreign-invested insurance companies.

The State Administration of Foreign Exchange has issued a new circular that aims to tackle both FIE debts and speculative inflows of foreign capital.

Foreign participation in the insurance industry has been given a boost with the China Insurance Regulatory Commission's issuance of implementing rules for foreign-invested insurance companies.

The Provisions stipulate detailed regulations in relation to company registered capital, including its amount, method of contribution, asset appraisal, form of payment, increase or decrease, and the corresponding procedures, rights and liabilities.