China amends rules for management of state-run bailout funds for insurers

China amends rules for management of state-run bailout funds for insurers

FILE PHOTO: Surveillance cameras are seen outside the China Banking and Insurance Regulatory Commission (CBIRC) building in Beijing, China December 13, 2018. REUTERS/Stringer

China has amended rules for the management of state-run bailout funds rescuing troubled insurers, its financial regulators said on Thursday.

The rules aim to promote healthy development of the insurance industry, prevent and resolve financial risks, and maintain financial stability, the China Banking and Insurance Regulatory Commission said in a statement on its website.

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