Administrative Measures for the Licenses of Banking and Insurance Institutions
Administrative Measures for the Licenses of Banking and Insurance Institutions
Administrative Measures for the Licenses of Banking and Insurance Institutions
Order of the National Financial Regulatory Administration [2026] No. 2
January 27, 2026
(Promulgated by the Order of the National Financial Regulatory Administration [2026] No. 2 on January 27, 2026, and effective from June 1, 2026)
Article 1 These Measures are formulated in accordance with the Administrative Licensing Law of the People's Republic of China, the Banking Regulation Law of the People's Republic of China, the Law of the People's Republic of China on Commercial Banks, the Insurance Law of the People's Republic of China, and the Decision of the State Council on Implementing the Access Administration of Financial Holding Companies, as well as other relevant regulations, with a view to implementing the principle of financial franchising, strengthening the management of the licenses of banking and insurance institutions, and promoting lawful licensed operations among banking and insurance institutions.
Article 2 For the purposes of these Measures, the term "license" refers to the legal document issued by the National Financial Regulatory Administration (NFRA) for franchised banking and insurance institutions to conduct financial business.
The issuance, renewal, and revocation of licenses, among other matters, shall be implemented by the NFRA and its authorized local offices in accordance with the law. No other entities or individuals shall exercise the aforesaid functions and powers.
Article 3 For the purposes of these Measures, the term "banking and insurance institutions" includes financial holding companies, policy banks, national commercial banks, city commercial banks, private banks, direct banks, foreign-funded banks, rural small and medium-sized banks, and other banking institutions and their branches; insurance group (holding) companies, life insurance companies, property insurance companies, reinsurance companies, insurance asset management companies, policy insurance companies, mutual insurance organizations, and other insurance institutions and their branches; financial asset management companies, finance companies of enterprise groups, financial leasing companies, automotive finance companies, money brokerage companies, consumer finance companies, trust companies, wealth management companies, financial asset investment companies, and other non-bank financial institutions and their branches approved for establishment by the NFRA and its local offices; as well as insurance professional agencies, insurance brokers, and concurrent-business insurance agencies, and other insurance intermediaries.
The aforesaid banking and insurance institutions must lawfully obtain a license and a business license issued by the market regulatory department to engage in financial business. Institutions without a license and a business license are not permitted to engage in financial business to be conducted by franchised banking and insurance institutions.
Article 4 Financial licenses shall apply to financial holding companies, policy banks, national commercial banks, city commercial banks, private banks, direct banks, foreign-funded banks, rural small and medium-sized banks, and other banking institutions and their branches; insurance group (holding) companies, life insurance companies, property insurance companies, reinsurance companies, insurance asset management companies, policy insurance companies, mutual insurance organizations, and other insurance institutions and their branches; financial asset management companies, finance companies of enterprise groups, financial leasing companies, automotive finance companies, money brokerage companies, consumer finance companies, trust companies, wealth management companies, financial asset investment companies, and other non-bank financial institutions and their branches approved for establishment by the NFRA and its local offices.
Insurance intermediary licenses shall apply to insurance professional agencies, insurance brokers, and concurrent-business insurance agencies, and other insurance intermediaries.
Article 5 The NFRA shall implement hierarchical management of the licenses of banking and insurance institutions.
The NFRA shall be responsible for the issuance and management of the licenses of banking and insurance institutions under its direct regulation.
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Order of the National Financial Regulatory Administration [2026] No. 2
January 27, 2026
(Promulgated by the Order of the National Financial Regulatory Administration [2026] No. 2 on January 27, 2026, and effective from June 1, 2026)
Article 1 These Measures are formulated in accordance with the Administrative Licensing Law of the People's Republic of China, the Banking Regulation Law of the People's Republic of China, the Law of the People's Republic of China on Commercial Banks, the Insurance Law of the People's Republic of China, and the Decision of the State Council on Implementing the Access Administration of Financial Holding Companies, as well as other relevant regulations, with a view to implementing the principle of financial franchising, strengthening the management of the licenses of banking and insurance institutions, and promoting lawful licensed operations among banking and insurance institutions.
Article 2 For the purposes of these Measures, the term "license" refers to the legal document issued by the National Financial Regulatory Administration (NFRA) for franchised banking and insurance institutions to conduct financial business.
The issuance, renewal, and revocation of licenses, among other matters, shall be implemented by the NFRA and its authorized local offices in accordance with the law. No other entities or individuals shall exercise the aforesaid functions and powers.
Article 3 For the purposes of these Measures, the term "banking and insurance institutions" includes financial holding companies, policy banks, national commercial banks, city commercial banks, private banks, direct banks, foreign-funded banks, rural small and medium-sized banks, and other banking institutions and their branches; insurance group (holding) companies, life insurance companies, property insurance companies, reinsurance companies, insurance asset management companies, policy insurance companies, mutual insurance organizations, and other insurance institutions and their branches; financial asset management companies, finance companies of enterprise groups, financial leasing companies, automotive finance companies, money brokerage companies, consumer finance companies, trust companies, wealth management companies, financial asset investment companies, and other non-bank financial institutions and their branches approved for establishment by the NFRA and its local offices; as well as insurance professional agencies, insurance brokers, and concurrent-business insurance agencies, and other insurance intermediaries.
The aforesaid banking and insurance institutions must lawfully obtain a license and a business license issued by the market regulatory department to engage in financial business. Institutions without a license and a business license are not permitted to engage in financial business to be conducted by franchised banking and insurance institutions.
Article 4 Financial licenses shall apply to financial holding companies, policy banks, national commercial banks, city commercial banks, private banks, direct banks, foreign-funded banks, rural small and medium-sized banks, and other banking institutions and their branches; insurance group (holding) companies, life insurance companies, property insurance companies, reinsurance companies, insurance asset management companies, policy insurance companies, mutual insurance organizations, and other insurance institutions and their branches; financial asset management companies, finance companies of enterprise groups, financial leasing companies, automotive finance companies, money brokerage companies, consumer finance companies, trust companies, wealth management companies, financial asset investment companies, and other non-bank financial institutions and their branches approved for establishment by the NFRA and its local offices.
Insurance intermediary licenses shall apply to insurance professional agencies, insurance brokers, and concurrent-business insurance agencies, and other insurance intermediaries.
Article 5 The NFRA shall implement hierarchical management of the licenses of banking and insurance institutions.
The NFRA shall be responsible for the issuance and management of the licenses of banking and insurance institutions under its direct regulation.
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