CIRC tightens company launch regulations

The Chinese regulator has strengthened its oversight of newly
formed (re)insurers in the latest example of stricter controls over
the industry.
The China Insurance Regulatory Commission (CIRC) last week
issued new guidelines that will include tougher tests of the
"qualification and authenticity" of shareholder funds and
stricter controls of share transfers during companies' set-up
period.
In addition, the regulator said it will now conduct interviews
with the new firms' board members, executive