Advocacy Actions
Meeting with PBOC - China Financial Standardisation Technical Committee (CFSTC)
The China Financial Standardization Technical Committee (CFSTC, SAC/TC 180) is a technical organization authorized by the Standardization Administration of the P. R. C. (SAC). CFSTC is a technical organization engaged in nationwide standardization in the financial sector and is responsible for the centralized management of standardization technology in the financial industry and for domestic work related to ISO/TC 68 and ISO/TC 222. The Standardization Administration of the P. R. C. has entrusted The People’s Bank of China to lead and manage China Financial Standardization Technical Committee. There are three sub-committees affiliated to CFSTC covering securities, insurance, and printing standardization, respectively.
Read moreConference-call with CBIRC on Cross-selling Insurance Products
Many foreign insurance companies do not hold a cross selling qualification in China, whereas in the past, foreign insurance companies that have obtained this qualification only aim at selected business lines. As old-style applications for cross-selling licenses were stopped while back members have been in a kind of vacuum on this matter. In this conference-call, the progress on re-open applications for cross-selling of insurance products for insurance companies was discussed. It was also discussed what consumer finance companies and auto finance companies that wish to act as an intermediate of insurance and expect to see in terms of regulatory developments.
Read moreEuropean Chamber Shanghai Chapter Zhejiang Government Dialogue on Fintech
European Chamber Shanghai Chapter Zhejiang Government Dialogue on Fintech
Read moreSubmitted Comments to CBIRC on the on Measures for Supervision of Internet Insurance Business (Draft for Comments)
On 28th October, the Insurance WG submitted comments to the China Banking & Insurance Regulatory Committee on the draft on Measures for Supervision of Internet Insurance Business (Draft for Comments).
Read moreSubmitted Comments on CBIRC’s Draft “Guidance on Implementing Comprehensive Reformation of Vehicle Insurance”
Upon the circulation of the draft within its relevant working group members, the Insurance working group on 5th August submitted comments for consideration of the CBIRC.
Read moreFeedback on Industry Concerns to the EU Delegation ahead of the Meeting between the EU Ambassador H.E Mr. Nicholas Chapuis and CBIRC Chairman Mr. Guo Shuqing
On 12th July, members of the Consumer Finance & NBFI Working Group and the Insurance Working Group submitted their main urgent industry concerns and a updated version of their respective 'low-hanging fruits list' to the European Union Delegation in China ahead of the meeting between the EU Ambassador H.E Mr. Nicolas Chapuis, and the CBIRC Chairman Mr. Guo Shuqing.
Read morePolicy Briefing on Yangshan Special Comprehensive Bonded Zone
Policy Briefing on Yangshan Special Comprehensive Bonded Zone
Read moreComments to MOFCOM and NDRC on Catalogue of Industries for Encouraged Foreign Investment (2019)
The European Chamber very much welcomes the MOFCOM's decision to collect opinions on the "Catalogue of Industries for Encouraged Foreign Investment (2019)". Upon careful study of the draft and consultation with its members, the European Union Chamber of Commerce in China has collated all member inputs and submitted suggestions to the MOFCOM for their consideration.
Read moreFollow up Discussion between EUCCC Financial Services representatives and the European Central Bank on the Outbreak of COVID-19
On 8th April, the EU Chamber facilitated a telephone call between representatives of A/C Member Banks and the European Central Bank (ECB).
Lobby Letter to the CBIRC on the Regulation of Reinsurance Companies
On 24st February the European Chamber’s Insurance Working Group sent a lobby letter to the China Banking and Insurance Regulatory Commission on the Regulation on the Establishment of Reinsurance Companies (Baojianhuiling [2002] 4) and the Regulation of the Reinsurance Business Management (Baojianhuiling 2010:8, revised in 2015).
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