Legislation

Commercial banks asked to pay attention to market risk management.

More requirements imposed on representative offices of foreign insurance organizations.

Access requirements to the National Interbank Bond Market for market makers lowered.

QFIIs no longer given preference as investors in Chinese banks.

Greater market access for Hong Kong and Macao air transport sales agencies.

Residency requirement for representatives of Hong Kong and Macao law firm representative offices lifted.

The requirement on the number of full-time lawyers employed by Mainland law firms that operate in association with Hong Kong or Macao law firms is waived.

Car manufacturers required to be more careful in managing their production capacity.

These measures impose further requirements on resident representative organizations in China of foreign insurance institutions, and facilitate the opening up of China's insurance market.