These are the updates on insurance regulatory developments in China.
SAC: Backs compliant, risk-aware brokers for insurance sales licenses
On July 11, the Securities Association of China(SAC) released an implementation opinion on strengthening self-regulation to promote high-quality development in the securities industry. It mentioned enhancing communication and coordination with relevant departments to steadily enable more brokerages with effective compliance and risk control to obtain licenses for selling bank wealth management and insurance products, better meeting investors' diversified needs.