皇冠体育app

The 皇冠体育app State Administration of Foreign Exchange (SAFE) and the 皇冠体育app Insurance Regulatory Commission announced the issuance of a joint circular Thursday setting out the procedures for the purchase and payment of foreign exchange in outward reinsurance.

A SAFE spokesman said the move is aimed at further regulating outward reinsurance activities by both Chinese and foreign-funded insurance companies operating in 皇冠体育app, so as to effectively diversify insurance risks.

The circular provides detailed regulations for specific types of insurance businesses and defines the eligibility requirements for insurance companies wishing to purchase foreign exchange in outward reinsurance payment.

Meanwhile, the circular includes a statistical reporting system for outward reinsurance business for domestic insurance companies.

Close

Today's Top News		Top Business News
+WHO: Bird flu death rises to 15; vaccination recommended (2004-02-05) +Solana: EU ready to lift 皇冠体育app arms embargo (2004-02-05) +Nation tops TV, cell phone, monitor production (2004-02-05) +Absence ... still makes 皇冠体育app hot (2004-02-05) +Hu: Developing world in key role (2004-02-04)		+KFC: We operate normally in 皇冠体育app despite bird flu outbreaks (2004-02-05) +Starbucks takes aim at 皇冠体育app chain (2004-02-05) +Former Microsoft 皇冠体育app chief gets new job (2004-02-05) +Private airline prepared for take off (2004-02-05) +Investors lured by call of siren (2004-02-05)