China tightens supervision of credit insurance, guarantee insurance

Source: Xinhua| 2020-05-20 18:40:16|Editor: huaxia

BEIJING, May 20 (Xinhua) -- China's insurance regulator on Wednesday issued measures to strengthen the supervision of credit insurance and guarantee insurance.

The measures, issued by the China Banking and Insurance Regulatory Commission, specify the operating requirements of the financing credit insurance business, such as linking with the central bank credit reference system.

They also highlight the protection of insurance consumers' rights and interests.

Other measures include setting flexible underwriting limits to guide leading insurance firms to support small businesses as well as expanding insurance services for the real economy. Enditem