The State Administration for Financial Regulation and MOFCOM issued a notice to
strengthen commerce-insurance coordination and tighten oversight of domestic
trade insurance. Provincial financial regulatory bureaus, especially those
advancing domestic trade insurance pilots, are instructed to strengthen business
supervision, enhance risk-monitoring indicators and mechanisms, and fulfill
regulatory duties by clarifying responsibilities, drafting contingency plans and
enforcing accountability. Regulators must promptly identify and address risk
signals, increase routine inspections, thoroughly investigate and resolve
complaints and reports, and strictly investigate and punish illegal or
non-compliant conduct in the insurance market.
