Business

China insurance regulator toughens supervision to avert risks

THE China Insurance Regulatory Commission (CIRC) announced enhanced supervision over insurance companies to prevent risks.

The insurance sector should guard against liquidity risks, corporate governance problems and insolvency issues that prevail in some insurance companies, warned the CIRC in a statement on Thursday.

The commission urged regulators to strictly supervise administrative permissions, information disclosure and penalties to improve the weak links in the system.

China's financial regulators have recently strengthened oversight and issued harsher punishments to remedy shortcomings and promote efficiency, in a sweeping campaign to protect against systemic financial crisis, a key task outlined by the country's leadership.

More StoriesLatest Business News

Wanda funds more in its listed arm to fight back speculation

1 DAY AGO

China a big buyer of German machine tools

1 DAY AGO

Johnson Controls sets up HQs in Shanghai

1 DAY AGO