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China to issue new insurance regulations

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Xiang Junbo, chairman of the China Insurance Regulatory Commission, has said that his agency plans to introduce measures aimed at improving corporate governance of insurance companies, imposing tougher punishment for rules violators and improving accountability, Asia Insurance Review reports citing Caixin. “Insurers must stand fast to their main business, return to basics and give full play to risk sharing and loss compensation, and build a national risk protection net,” he said.

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