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China issues guidelines to supervise the conduct of insurance agency business by commercial banks
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In March 2011, China released guidelines on how commercial banks may conduct insurance agency business in China. This client briefing looks at the framework of the guidelines, based on the need for stable cooperation of agency relationship between insurance companies and commercial banks, in addition to the special qualifications required for the conduct of insurance agency business and the ways in which the agency fee and accounting issues should be managed.
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