Legislation

Market access prohibition is now an administrative penalty for the insurance industry.

Insurance companies required to disclose seven types of information.

Establishments of insurance companies classified into four grades for regulation.

Mofcom delegates approval power over foreign-invested holding companies and venture capital companies to lower-level authorities.

The Measures classify establishments of insurance companies into four grades based on the companies' risk positions and impose regulatory measures accordingly.

The CIRC may release a major shareholder from the restriction on shareholding percentage if it satisfies certain provisions.

The Measures specify the information that an insurance company is required to disclose as well as the method and time of disclosure.

Mofcom delegates approval power over foreign-invested holding companies and venture capital companies to lower-level authorities.

The Provisions set forth the application procedure for a food additive production permit, require the keeping of production management records and specify the particulars to be listed on the label and instructions for use.