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Notice by the General Office of the China Banking and Insurance Regulatory Commission Regarding Clarifying the Timeline of Lifting Restrictions on the Foreign Ownership Ratio in Equity Joint Venture Life Insurance Companies | | 中国银保监会办公厅关于明确取消合资寿险公司外资股比限制时点的通知 |
(No. 230 [2019] of the General Office of the China Banking and Insurance Regulatory Commission) | | (银保监办发〔2019〕230号) |
All local offices of the China Banking and Insurance Regulatory Commission and foreign-funded insurance companies: | | 各银保监局、外资保险公司: |
On July 20, 2019, the Office of Financial Stability and Development Committee of the State Council issued the Relevant Measures for Further Expanding the Opening of the Financial Industry, under which the transitional period for raising the ratio of foreign stake in a personal insurance company from 51% to 100% is brought forward to 2020. For the purposes of promoting the implementation of the aforementioned opening measures as soon as possible, you are hereby notified of the relevant specific matters as follows: | | 2019年7月20日,国务院金融稳定发展委员会办公室对外发布《关于进一步扩大金融业对外开放的有关举措》,将人身险外资股比限制从51%提高至100%的过渡期提前至2020年。为推动上述对外开放举措尽快落地,现将有关具体事项通知如下: |
I. Beginning on January 1, 2020, restrictions on the foreign ownership ratio in an equity joint venture insurance company engaged in life insurance business (hereinafter referred to as the “joint venture life insurance company”) are officially removed, and the foreign stake in a joint venture life insurance company may be 100%. | | 一、自2020年1月1日起,正式取消经营人身保险业务的合资保险公司(以下简称合资寿险公司)的外资比例限制,合资寿险公司的外资比例可达100%。 |
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