China Insurance Regulatory Commission, Circular on Strengthening the Regulation of the Use of External Credit Ratings by Bond Investments of Insurance Proceeds

中国保险监督管理委员会关于加强保险资金投资债券使用外部信用评级监管的通知

September 10, 2013 | BY

CLP Temp &

CIRC to regularly assess credit rating agencies

Clp Reference: 3700/13.07.31 Promulgated: 2013-07-31

Issued: July 31 2013

Applicability: The Circular shall apply, mutatis mutandis, to the use of external credit ratings by investments of insurance proceeds in other credit types of financial products (Article 8).

Main contents: The China Insurance Regulatory Commission (CIRC) sets forth regulatory requirements for credit rating agencies giving ratings to bond investments of insurance proceeds. A credit rating agency should have its qualifications approved by the CIRC and have sound systems for internal controls and rating operations, and should disclose its rating methods and procedures. It is also subject to regulation by industry associations and regular assessments by the CIRC or its appointed intermediary institution.

Related legislation: Tentative Measures for the Administration of the Application of Insurance Capital, Jul 30 2010, CLP 2010 No.9 p.47

clp reference:3700/13.07.31 issued:2013-07-31

This premium content is reserved for
China Law & Practice Subscribers.

  • A database of over 3,000 essential documents including key PRC legislation translated into English
  • A choice of newsletters to alert you to changes affecting your business including sector specific updates
  • Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
For enterprise-wide or corporate enquiries, please contact our experienced Sales Professionals at +44 (0)203 868 7546 or [email protected]