Circular of the China Insurance Regulatory Commission on Matters including Adjustments to Charging Standards for Regulatory Fees in the Insurance Industry
Circular of the China Insurance Regulatory Commission on Matters including Adjustments to Charging Standards for Regulatory Fees in the Insurance Industry
Circular of the China Insurance Regulatory Commission on Matters including Adjustments to Charging Standards for Regulatory Fees in the Insurance Industry
Bao Jian Fa [2016] No.9
January 25, 2016
All insurance regulatory bureaus, insurance companies, insurance assets management companies, insurance intermediaries and representative offices of foreign insurance institutions,
In accordance with the Circular of the Ministry of Finance and the National Development and Reform Commission on Republishing the Administrative and Institutional Fee Items of the China Insurance Regulatory Commission (Cai Shui [2015] No.22, see Appendix I) and the Circular of the National Development and Reform Commission and the Ministry of Finance on Republishing upon Review the Charging Standards for Regulatory Fees of the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission (Fa Gai Jia Ge [2016] No.14, see Appendix II), matters including the charging standards for regulatory fees in the insurance industry are hereby notified as follows:
I. Scope for Charging Regulatory Fees in the Insurance Industry
(I) Various insurance companies (including insurance groups and holdings companies)
(II) Insurance assets management companies
(III) Institutions specialized in the insurance intermediary business (including insurance intermediary group companies)
(IV) Representative offices of foreign insurance institutions
(V) Other insurance institutions established upon approval
II. Charging Standards for Regulatory Fees in the Insurance Industry
Regulatory fees in the insurance industry are composed of two parts, namely regulatory fees for institutions and regulatory fees for business. Specific charging standards are set out as follows:
(I) Regulatory fees for institutions
1. For various insurance companies, regulatory fees shall be charged at 0.4‰ of the registered capital (working capital for branches of foreign insurance companies), with the upper limit of CNY2 million for each insurance group company or insurance holdings company each year.
2.
......
Bao Jian Fa [2016] No.9
January 25, 2016
All insurance regulatory bureaus, insurance companies, insurance assets management companies, insurance intermediaries and representative offices of foreign insurance institutions,
In accordance with the Circular of the Ministry of Finance and the National Development and Reform Commission on Republishing the Administrative and Institutional Fee Items of the China Insurance Regulatory Commission (Cai Shui [2015] No.22, see Appendix I) and the Circular of the National Development and Reform Commission and the Ministry of Finance on Republishing upon Review the Charging Standards for Regulatory Fees of the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission (Fa Gai Jia Ge [2016] No.14, see Appendix II), matters including the charging standards for regulatory fees in the insurance industry are hereby notified as follows:
I. Scope for Charging Regulatory Fees in the Insurance Industry
(I) Various insurance companies (including insurance groups and holdings companies)
(II) Insurance assets management companies
(III) Institutions specialized in the insurance intermediary business (including insurance intermediary group companies)
(IV) Representative offices of foreign insurance institutions
(V) Other insurance institutions established upon approval
II. Charging Standards for Regulatory Fees in the Insurance Industry
Regulatory fees in the insurance industry are composed of two parts, namely regulatory fees for institutions and regulatory fees for business. Specific charging standards are set out as follows:
(I) Regulatory fees for institutions
1. For various insurance companies, regulatory fees shall be charged at 0.4‰ of the registered capital (working capital for branches of foreign insurance companies), with the upper limit of CNY2 million for each insurance group company or insurance holdings company each year.
2.
......