Brokers set for approval

PUBLISHED : Friday, 18 June, 1999, 12:00am
UPDATED : Friday, 18 June, 1999, 12:00am

The China Insurance Regulatory Commission (CIRC) will soon approve the establishment of insurance brokers, Xinhua news agency quoted the regulator's vice-chairman as saying.

Tang Yunxiang said the CIRC's authorisation of the mainland's first insurance brokers was waiting for a final go-ahead by the State Council.

To prepare for the move, the CIRC last year promulgated draft regulations on the necessary qualifications.

Based on these regulations, it held the first national brokers' qualification examination, the first stage of the drive to regulate the sector.