Foreign participation in the insurance industry has been given a boost with the China Insurance Regulatory Commission's issuance of implementing rules for foreign-invested insurance companies.
A recent report from the State Administration of Commerce has highlighted the government's ongoing concern with monopoly practices by big foreign companies in China, and gives some information about the content of the pending PRC Anti-monopoly Law.
The Administration of Insurance Companies Provisions became effective on June 15 2004. They are applicable to domestic insurance companies, and are generally applicable to foreign-invested insurance companies.
A look at the opportunities under the new regulations governing foreign-invested commercial enterprises in light of the provisions of the Mainland and Hong Kong Closer Economic Partnership Arrangement.
The entry into effect of the Administrative Licensing Law on July 1 2004 promises to be a milestone in China's advance toward creation of a more transparent legal system and a more limited, efficient and less arbitrary government.