China issued regulations for the management of overseas funded insurance companies on Saturday.
The document has been signed by Chinese Premier Zhu Rongji and will come into effect on February 1, 2002.
According to the regulations, all overseas funded insurance companies should seek the approval of the China Insurance Regulatory Commission before becoming established.
The companies will be allowed to deal in property, liability, credit, personal, life, health and accident insurance.
The regulations are applicable to overseas funded insurance agencies, which are set up in Hong Kong, Macao and Taiwan.
(Xinhua News Agency December 23, 2001)
