FDI is Permitted up to 100% in Non-life Insurance in China

Date: 2015-09-16

“• The China Insurance Regulatory Commission is responsible for the regulation and supervision of the Chinese insurance industry.

• FDI is permitted up to 100% in non-life insurance and 50% in life insurance business.

• A new risk-based solvency standard, the China Risk Oriented Solvency System, introduced in May 2013, is expected to be fully implemented by 2017.

• Business tax is imposed at a rate of 5% on general insurance products; however, life insurance products are exempt from this tax. 

• Non-admitted insurance is not permitted in the Chinese insurance industry.”

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