President Wuttke and Member Representatives from Financial Services Sector Meet with Vice Chairman Wang Zhaoxing, CBIRC
2019-07-18 | All chapters
On 18th July, Joerg Wuttke, president, European Chamber, along with representatives of the Chamber Advisory Council, Banking and Securities Working Group (WG), Insurance WG, and Consumer Finance and Non-banking Financial Institutions WG, visited the China Banking and Insurance Regulatory Commission (CBIRC) and met with Vice Chairman Wang Zhaoxing. The deputy director generals of six CBIRC departments also attended the meeting.
The European Chamber organised the meeting to discuss the Measures for the Administration of Large Risk Exposures for Commercial Banks (Risk Exposure Measures), published on 4th May 2018. Other topics were touched upon included clarifications on the Administrative Measures for Equity Interests in Insurance Companies and the Draft for Insurance Intermediary Management Regulations (Call for Comments), the further opening-up of pension management licenses, and the pending release of the financing restrictions on licensed consumer finance companies.
The exchanges were fruitful and the proposed issues received appropriate responses. As Vice Chairman Wang Zhaoxing said during the meeting, further facilitation measures for asset management will be released very soon. In his opinion, foreign capital is and will consistently play a critical role in every aspect of China’s economic development. The meeting concluded with Chamber President Joerg Wuttke presenting the Business Confidence Survey 2019 to Vice Chairman Wang Zhaoxing.