A long wait for a quick insurance fix

April 16, 2009 | BY

clpstaff &clp articles

Amendments to China's insurance law have been under discussion for a decade. But some changes may have been rushed through to meet the demands of a struggling economy.

By Phil Taylor.


[Click here for more analysis and here for a full text translation.]


Seven years after its last revision, and after long debate, China has amended its main law covering the insurance business.

    After the previous version of the PRC Insurance Law (中华人民共和国保险法) took effect in 2002, a number of problems came to light. One was a lack of regulation of the market. Another was the narrow business scope given to insurance companies as well as tight restrictions on the kind of investments they could make (essentially they were only allowed to buy treasury bonds).

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