China Banking and Insurance Regulatory Commission: Implementing hierarchical management for bank insurance institution licenses.

According to the Securities Times App, on November 10th, the China Banking and Insurance Regulatory Commission issued a public announcement soliciting opinions on the "Management Measures for Banking and Insurance Institutions License (Consultation Draft)." The CBIRC implements classified management for banking and insurance institutions licenses. The CBIRC is responsible for the issuance and management of banking and insurance institutions licenses for policy banks, national commercial banks, direct banks, foreign banks directly supervised by the CBIRC, insurance groups (holding) 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.