CIRC and OCI to work on equivalence framework

The Chinese and Hong Kong insurance watchdogs have signed an
agreement to conduct an assessment into equivalence for the
insurance solvency and regulatory regimes in the two
territories.
The Equivalence Assessment Framework Agreement was signed on 16
May, and is designed to achieve mutual regulatory recognition for
China and Hong Kong and enhance cooperation between the two
agencies.
Currently, the two bodies are developing their own enhanced
risk-based solvency regulatory regimes with reference