China Insurance Regulatory Commission to monitor insurance costs down

Core Tip: National Development and Reform Commission and the Ministry of Finance announced on December 1, the China Insurance Regulatory Commission will be reduced or abolished to the insurance companies charge some of the insurance regulatory fees. National Development and Reform Commission published in the website of the joint statement pointed out that the reduction or cancellation fees will take effect retrospectively from January 1, 2008.

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National Development and Reform Commission and the Ministry of Finance announced on December 1, the China Insurance Regulatory Commission will be reduced or canceled insurance to insurance companies impose certain regulatory fees. National Development and Reform Commission published in the website of the joint statement pointed out that the reduction or cancellation fees will take effect retrospectively from January 1, 2008.

China Insurance Regulatory Commission will lower the insurance cost of the regulatory agency.

The statement did not specifically set out to make these adjustments.

Earlier this year, natural disasters, as well as international and domestic stock prices plummeted, and other types of events, Chinese insurance companies have suffered losses.