Regulator outlines vision for insurance intermediary market in China

The China Insurance Regulatory Commission has outlined its vision for the insurance intermediary market in a recent statement, reported Asia Insurance Review.

The regulator aims to develop a multi-layer intermediary market that would include operators of different scales.

The regulator also proposes to reduce entry barriers to the intermediary market.

The CIRC said that it will support professional agencies to establish foreign offices.

The regulator is also supporting the establishment of a self-regulatory insurance intermediary industry association.

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