Public Notice Regarding Implementation of WTO Accession Commitments (Chinese and English Text)
Major Law
Additional Laws and Regulations
Short Summary
The following translation was retrieved from the Chinese Insurance Regulatory Commission Web site on July 11, 2006. The Chinese text was retrieved from the Chinese Insurance Regulatory CommissionWeb site on July 11, 2006.
CIRC Gazette Regarding Implementation of WTO Accession Commitments -------------------------------------------------------------------------------- 2005-12-22 Pursuant to China’s WTO accession commitments, as of today, foreign-funded life insurance companies are permitted to be engaged in health insurance, group insurance, and pension/annuity business; geographical limitations on establishment of foreign-funded insurance institutions are removed; and shares controlled by foreign equity-holders can be as high as 51% for joint ventures of insurance brokerage companies. Foreign-funded life insurance companies may apply for adjustments to “Insurance Institutional Legal Person License” and “Insurance Business License” as per relevant rules. China Insurance Regulatory Commission December 11, 2004
CIRC Gazette Regarding Implementation of WTO Accession Commitments -------------------------------------------------------------------------------- 2005-12-22 Pursuant to China’s WTO accession commitments, as of today, foreign-funded life insurance companies are permitted to be engaged in health insurance, group insurance, and pension/annuity business; geographical limitations on establishment of foreign-funded insurance institutions are removed; and shares controlled by foreign equity-holders can be as high as 51% for joint ventures of insurance brokerage companies. Foreign-funded life insurance companies may apply for adjustments to “Insurance Institutional Legal Person License” and “Insurance Business License” as per relevant rules. China Insurance Regulatory Commission December 11, 2004
Title (Chinese)
关于履行入世承诺的公告
Body (Chinese)
中国保险监督管理委员会关于履行入世承诺的公告根据中国入世承诺，自即日起，允许外资寿险公司提供健康险、团体险和养老金/年金险业务，取消对设立外资保险机构的地域限制，设立合资保险经纪公司的外资股比可至51％。 外资寿险公司可根据有关规定办理《保险机构法人许可证》和《经营保险业务许可证》变更等相关手续。 特此公告 中国保险监督管理委员会 二00四年十二月十一日