With the rapid development of China's insurance industry and the opening of the Chinese insurance market to the world, Chinese insurance law and regulation has become an increasingly relevant topic for insurance practitioners and academics. The Regulation of Insurance in China therefore provides a much needed analysis of the Chinese regulatory system. This is the first systematic text written in English on the regulation of insurance in China and provides a comprehensive and systematic analysis of rules of law and administrative regulations on China's insurance industry and insurance market, covering four level of regulatory hierarchy - the statutory law, the regulations enacted by the central government (the State Council), the regulations developed by the insurance supervision and regulation authority of the State Council, and self-regulations by the insurance industry.

This book is essential reading for insurance companies and legal practitioners looking to do business in China, as well as reference for lawyers practising insurance law. It is also a useful resource for students and academics studying Chinese law.

Professor Zhen Jing is Chair in Commercial Law at the School of Law, Bangor University. She has taught insurance law for many years and has practical experience in the Chinese insurance industry. She is author of Chinese Insurance Contracts: Law and Practice which was awarded the 2017 British Insurance Law Association Book Prize.

CHAPTER 1 Introduction of Insurance Regulation and

1.1 Introduction

1.2 The nature of insurance

1.3 Reasons and objectives of insurance regulation

1.4 The outline of this book

1.5 The development of China's insurance industry

1.6 The present insurance market in China

1.7 The further development of the insurance industry

1.8 Conclusion

2.1 Introduction

2.2 Philosophical traditions of Chinese law

2.3 The legislative system

2.4 The judicial system

2.5 Insurance legislation in China

2.6 Administrative regulations by the State Council

1. The judicial interpretations of statutory law by the SPC
2. Regulations enacted by the insurance supervision and regulation authority of the State

Council and other relevant regulatory authorities

1. Self-regulation rules

2.10 The regulatory framework of insurance in China

2.11 Conclusion

CHAPTER 3 Insurance Supervision and Regulation Authority

and System

3.1 Introduction

3.2 A historical consideration of the development of insurance regulatory authority

3.3 Statutory functions and responsibilities of the insurance supervision and

regulation authority of the State Council

3.4 The China Banking and Insurance Regulatory Commission

3.5 The functions and responsibilities of local offices of the CBIRC

3.6 The new duty of the local offices of the CBIRC to implement certain administrative licensing matters

3.7 The allocation of responsibilities between the CBIRC and its local offices for the

supervision and regulation of property insurance companies and reinsurance companies

3.8 Methods of insurance supervision and regulation

3.9 Corrective measures and administrative penalties

3.10 Conclusion

CHAPTER 4 Formation and Dissolution of Insurance

Companies

4.1 Introduction

4.2 Formation of insurance companies

4.3 Formation of branch offices

4.4 Formation of overseas insurance institutions

4.5 Formation of reinsurance companies

4.6 Formation and business scope of insurance group companies

1. Regulation on modification, dissolution and abolition of insurance institutions
2. Market access and withdrawal of non-insurance subsidiaries of insurance companies

4.9 Supervision and administration of insurance institutions

4.10 Supervision and administration of insurance group companies

4.11 Conclusion

CHAPTER 5 Regulation of Foreign-Funded Insurance

Companies and the Representative Offices of

Foreign Insurance Institutions

5.1 Introduction

5.2 Regulation on the administration of foreign-funded insurance companies

5.3 The Implementation Rules for the RAFFIC

5.4 Administration of representative offices of foreign insurance institutions in China

5.5 Conclusion

CHAPTER 6 Regulation of Administrative Licencing and

Insurance Permits

6.1 Introduction

6.2 The principles of insurance licensing

6.3 Administrative licensing and insurance permits

6.4 The Provisions on Implementation Procedures of Administrative Licensing

6.5 Regulation of insurance permits

6.6 Conclusion

CHAPTER 7 Regulation of Corporate Governance

7.1 Introduction

7.2 The legal framework for corporate governance of insurance companies

7.3 Statutory requirements for directors, supervisors and senior officers of insurance

companies

7.4 Requirements for directors, supervisors and senior officers formulated by the CBIRC

1. The regulation of corporate governance structure

7.6 Regulation of the operation of the board of directors of insurance companies

7.7 Administration of auditing of directors and senior managers of insurance companies

1. Internal audit of insurance companies

7.9 Guidelines for salary management rules of insurance companies

7.10 Compliance management of insurance companies

7.11 Related-party transactions of insurance companies

7.12 Risk management of insurance companies

7.13 Comprehensive risk management of personal insurance companies

7.14 Internal control of insurance companies

7.15 Evaluation of insurance company corporate governance

7.16 Corporate governance of insurance group companies and of insurance groups

7.17 Information disclosure by insurance companies

7.18 Corporate governance action plan for three years from 2020 to 2022

7.19 Conclusion

CHAPTER 8 Regulation of Equites of Insurance Companies

8.1 Introduction

8.2 Classification of equites of insurance companies

8.3 Qualifications of shareholders

8.4 Acquisition of equities

8.5 Funds for acquiring equities

8.6 Behaviours of shareholders

8.7 Management of equity matters

8.8 Submission of materials to the CBIRC

8.9 Supervision and administration

8.10 Equity information disclosure by insurance companies

8.11 Conclusion

CHAPTER 9 Regulation of Insurance Business

9.1 Introduction

9.2 An overview of law and regulations for insurance business

9.3 The regulation on scope of insurance business

9.4 Statutory and regulatory requirements for insurance clauses and premium rates

9.5 Regulation of insurance clauses and premium rates of property insurance

9.6 Regulation of insurance clauses and premium rates of commercial motor vehicle

insurance

9.7 Regulation of insurance clauses and premium rates of personal insurance

9.8 Development of insurance products by property insurance companies

9.9 Improving the product supervision of property insurance companies

9.10 Strengthen…