China Banking and Insurance Regulatory Commission: Implement graded management on bank and insurance institution licenses.

The China Banking and Insurance Regulatory Commission issued a public notice on soliciting opinions on the "Management Measures for Banking and Insurance Institutions' License". The regulatory commission implements hierarchical management for banking and insurance institutions' licenses. The regulatory commission is responsible for issuing and managing licenses for policy banks, national commercial banks, direct banks, foreign banks under its direct supervision, insurance group companies, life insurance companies, property insurance companies, reinsurance companies, insurance asset management companies, policy insurance companies, financial asset management companies, wealth management companies, financial asset investment companies, financial holding companies, insurance brokers, and other banking and insurance institutions.