Insurance Law

The Reinsurance Provisions finally complete the legal framework for foreign investment in the reinsurance sector in China.

Issued: December 6 2001Effective: January 1 2002Interpreting authority: China Insurance Regulatory Commission (CIRC)Applicability: For the purposes of…

Promulgated: August 23 2002Effective: October 1 2002Main contents: Article 3 of the Regulations states that according to State provisions no tax or fee…

Issued: June 1 2002Main contents: The Circular states that business tax and deed tax will not be levied on the transfer of ownership of immovable property…

Clarifies the application of "time of work", "area of work" and "on the way to or from work".

Prohibits reserves, funds or future expenses withdrawal (except for bad debt) for taxation purposes.

Restrictions on business scope, staffing and geographical location of sales service departments of insurance companies.

Principles governing the separate account arrangement, valuation date and measurement of income revenue and expenses of investment-linked products.

After the PRC accession to WTO, the threshold for a "large-scale commercial enterprise" is gradually lowered.