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Last updated at: (Beijing Time) Sunday, December 23, 2001
New Regulations for Management of Overseas Funded Insurance Companies
China issued regulations for the management of overseas funded insurance companies Saturday.
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China issued regulations for the management of overseas funded insurance companies Saturday. The document has been signed by Chinese Premier
Zhu Rongji
and will come into effect on February 1, 2002.
According to the regulations, all overseas funded insurance companies should seek the approval of the China Insurance Regulatory Commission before becoming established.
The companies will be allowed to deal in property, liability, credit, personal, life, health and accident insurance.
The regulations are applicable to overseas funded insurance agencies which are set up in
Hong Kong
,
Macao
and
Taiwan
.
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